{"id":6411,"date":"2019-02-14T09:14:36","date_gmt":"2019-02-14T07:14:36","guid":{"rendered":"https:\/\/redgatecapital.eu\/nasdaq-welcomes-magnetic-mro-to-baltic-first-north-market\/"},"modified":"2022-12-19T11:00:22","modified_gmt":"2022-12-19T09:00:22","slug":"nasdaq-welcomes-magnetic-mro-to-baltic-first-north-market","status":"publish","type":"post","link":"https:\/\/redgatecapital.eu\/en\/nasdaq-welcomes-magnetic-mro-to-baltic-first-north-market\/","title":{"rendered":"Nasdaq Welcomes Magnetic MRO to Baltic First North Market"},"content":{"rendered":"

 <\/p>\n

Tallinn\/Riga\/Vilnius, Nasdaq Baltic Market, February 14, 2019\u00a0<\/strong>\u2013 Nasdaq (NDAQ)\u00a0announces that the bonds of Magnetic MRO, an aviation maintenance company headquartered in Estonia, were admitted to trading to the Nasdaq Baltic First North by Nasdaq Tallinn as of today, February 14.<\/p>\n

Magnetic MRO offers a full range of commercial airplane maintenance services and has been certified by the European Aviation Safety Agency and the Federal Aviation Administration of the US. The company is headquartered in Estonia, along with multiple locations across the world.<\/p>\n

Magnetic MRO carried through a private placement of unsecured bonds and raised EUR 8 million to support company\u2019s growth plans, including financing a strategic acquisition. The nominal value of one bond is 100 euros, coupon rate is 8% per annum and paid out quarterly. The bonds will mature in 3 years. The bonds were subscribed by 70 investors from Estonia, Latvia and Lithuania.<\/p>\n

\u201cMagnetic MRO has gone through a tremendous transformation over the years and \u2013 as shown by the titles they\u2019ve won \u2013 is now one of the most successful and respected companies in Estonia,\u201d said Kaarel Ots, the CEO of Nasdaq Tallinn. \u201cIt is great to see such an ambitious team using First North market to raise capital to fuel its further global expansion. I wish them all the best on their journey as a public company and hope to see them listed on the Main Market in the future.\u201d<\/p>\n

\u201cIn the beginning of 2018, Hangxin, an international airplane component maintenance company listed on the Shanghai Stock Exchange, acquired the shares of Magnetic MRO. This basically means that we have been following the rules of a publicly listed company for almost a year,\u201d said Risto M\u00e4eots, the CEO of Magnetic MRO. \u201cTherefore, listing our bonds on the First North market does not mean we have to change our internal processes, but instead allows Baltic investors to invest in our growth story. We were really happy to see that our bonds were subscribed by investors all across the Baltics and in addition to investment funds and banks, also retail investors subscribed for the bonds.\u201d<\/p>\n

Redgate Capital\u00a0<\/strong>serves as the Certified Adviser for the company on First North.\u00a0Andrei Zaborski<\/strong>, a partner at Redgate Capital said that Magnetic MRO bond listing on First North is a great news for the local and regional investors. \u201cMagnetic MRO is a strong company with an attractive growth story, and operates in a very interesting and high value-adding global sector,\u201d said Zaborski. \u201cI would advise investors to keep Magnetic MRO on their radar both in terms of potential additional issues or issues of new instruments. First North market serves as a springboard to reach the bigger markets, and at the same time it is a good place for retail investors to get to know the new companies on the market.\u201d<\/p>\n

Magnetic MRO<\/strong>\u00a0offers total technical care for airplanes, and is headquartered in Tallinn Airport. In January 2018, an investment firm BaltCap \u2013 the previous owner of Magnetic MRO \u2013 sold 100% of its ownership in Magnetic MRO to a Chinese company\u00a0Guangzhou Hangxin Aviation Technology (Hangxin). This marked and still marks the biggest Chinese investment made into an Estonian company. In 2017, Magnetic MRO\u2019s revenues exceeded EUR 90 million, and net profit was ca EUR 4 million. There are more than 400 employees working in the company.\u00a0In 2017, Magnetic MRO was chosen the \u201cCompany of the Year\u201d and \u201cExporter of the Year\u201d by Enterprise Estonia.<\/p>\n

First North<\/strong>\u00a0is a multilateral trading facility (MTF) tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. Respectively, for investors, First North offers an opportunity to invest in companies that are in relatively early stages of their growth. First North is an alternative market and is often seen as a first step towards trading on the regulated market.<\/p>\n

About Nasdaq\u00a0<\/strong><\/p>\n

Nasdaq\u00a0(Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today\u2019s global capital markets. As the creator of the world\u2019s first electronic stock market, its technology powers more than 100 marketplaces in 50 countries.\u00a0Nasdaq\u00a0is home to over 4,000 total listings with a market value of approximately $12 trillion. To learn more, visit:\u00a0http:\/\/business.nasdaq.com\/<\/a>.<\/p>\n

Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius securities markets as well as Nasdaq CSD. To learn more, visit:\u00a0nasdaqbaltic.com<\/a>.<\/p>\n

Read official Nasdaq Tallinn press release\u00a0here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Tallinn\/Riga\/Vilnius, Nasdaq Baltic Market, February 14, 2019\u00a0\u2013 Nasdaq (NDAQ)\u00a0announces that the bonds of Magnetic MRO, an aviation maintenance company headquartered in Estonia, were admitted to trading to the Nasdaq Baltic First North by Nasdaq Tallinn as of today, February 14. Magnetic MRO offers a full range of commercial airplane maintenance services and has been […]\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6411","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nNasdaq Welcomes Magnetic MRO to Baltic First North Market - Redgate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/redgatecapital.eu\/en\/nasdaq-welcomes-magnetic-mro-to-baltic-first-north-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nasdaq Welcomes Magnetic MRO to Baltic First North Market - Redgate\" \/>\n<meta property=\"og:description\" content=\"  Tallinn\/Riga\/Vilnius, Nasdaq Baltic Market, February 14, 2019\u00a0\u2013 Nasdaq (NDAQ)\u00a0announces that the bonds of Magnetic MRO, an aviation maintenance company headquartered in Estonia, were admitted to trading to the Nasdaq Baltic First North by Nasdaq Tallinn as of today, February 14. 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