Announcement on the results of MADARA Cosmetics, A
Post# of 301275
The subscription period for MADARA Cosmetics, AS shares ended on November 3, 2017. Total demand represented 255% of the offer base of 482,220 shares at a fixed price of EUR 6.25 per share. The over-allotment (greenshoe) option of 48,222 shares will therefore be exercised, bringing the total issue of new shares to 530,442. The results of the auction are summarized in the table:
| Company | MADARA Cosmetics, AS |
| Share ISIN code | LV0000101624 |
| Auction period | 16.10.2017 – 03.11.2017 |
| Settlement date | 09.11.2017 |
| First trading day on Nasdaq Riga First North | 10.11.2017 |
| Number of shares auctioned | 530 442 (480 220 +10% over-allotment) |
| Number of shares asked | 1 228 037 |
| Number of shares sold | 530 442 |
| Auction price (EUR) | 6.25 |
The balance went to various institutional and strategic investors. From an allocation perspective, employees of MADARA Cosmetics, AS received full allocation for their demand, while 88% of retail investors (by number) also had their subscriptions fully satisfied. This was achieved by democratically allocating a flat amount of 500 shares (EUR 3 125) for every investor in the retail tranche who submitted orders exceeding 500 shares. In all, the retail offering had more than 700 orders submitted, with allocations constituting around 26% of the offer base.
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