On the 14th August, representatives of Latvenergo AS rung the trading session opening bell at Nasdaq MarketSite studio in New York. This tradition is entrusted to the companies, whose operational achievements have been particularly outstanding– Latvenergo is the first company in the Baltics, which has received Nasdaq exchange award for the Best Investor Relations among Bond Issuers.
In the Opening Bell Ceremony Āris Žīgurs, Chief Executive Officerof Latvenergo AS, said: “Latvia is a country of innovation, however, however an investor is needed to bring these innovations into life. Similarly as it was at that time long ago when Jakob Davis, a tailor born in Riga who emigrated to New York, suggested an innovative way to improve durability of jeans by using rivets. He did not have enough money for patenting his innovation, thus Levi Strauss became his investor. This is a great story about what happens and what horizons open up when passion, innovation and investments meet.
Today, five years after we decided on the bond issue, Latvenergo is the most valuable company in Latvia and among the most valuable in the Baltics. I hope that in not so very far future the Market Bell Ceremony will be attended by yet another Head of a Latvian company inspired by our example.”
The event was honoured with the presence of Michele Small, Head of theEBRD Representative Office in Washington, Ints Krasts, Board Member of SEB Bank, Jānis Mažeiks, Ambassador and Permanent Representative of the Republic of Latvia to the United Nations, Toms Zvidriņš, Head of the Representative Office of the Latvian Investment and Development Agency in the USA, Egils Leimanis, Second Secretary of the Embassy of Latvia in the USA, Daiga Auziņa-Melalksne, Chairman of the Management Board of Nasdaq Riga, Raits Eglītis, Secretary General of the American Latvian Association, Jānis Kancāns, Public Relations Manager of the American Latvian Association.
Simultaneously with the Opening Bell Ceremony a video representing Latvia and Latvenergo AS under the slogan “Green energy. Green country. Green bonds” for an hour was shown on the screen of Nasdaq building at Times Square. “Times Square is among the liveliest spots in the world – bursting with colour, light, advertisements, and among all this „noise” the story about the green Latvia and Latvenergo was like a breeze of fresh pine forest. By demonstrating shades of the green colour found in our country, we told the story about the diversity of Latvia and the synergy of Latvenergo and our country. We are proud for bringing the name of Latvia to one of the most popular places in the world”, Andris Siksnis, Communication Director of Latvenergo AS commented the impression brought by the video broadcasted in the very heart of New York.
In 2012, Latvenergo AS became the first state owned company issuing bonds, thus diversifying its financing sources and significantly contributing to corporate governance. Organisation of the bond issue and relations with investors were implemented by SEB Bank by ensuring all the technical and legal processes, attracting investors and preparing the offer that would be the most suitable for the range of investors. In 2015, this very successful move was followed by the program of issue of Green Bonds which was completed in 2016. This issue has received the highest evaluations – CICERO Dark Green shadingl and Moody’s Assessment GB1 (excellent).
Nasdaq Baltic stock exchange has been organising and awarding Baltic Market Awards since 2006, however, this year was the first time when awards were granted to the companies whose issued bonds are listed on the Baltic stock exchanges. Latvenergo AS is the first company having received this award thanks to implementation of reliable, transparent and best practice investor relations. Besides that, Latvenergo Group is a commercially successful company competing on the free market in all the three Baltic countries with good results.
The video from the event is available here.