Following the successful launch of the alternative market First North in the
Nordic countries, OMX extends the concept of First North to the Baltic region
in 2007. First North provides growing companies with an easy access to the
Nordic, Baltic and global financial markets. In addition to that it provides
the investors with additional investment possibilities. First North is one of
the fastest growing alternative markets in Europe.
First North in the Baltic countries is an alternative to the Baltic main market
with lower requirements and rules. It is an exchange-regulated marketplace
suitable for young and growing companies during their growth phase. First North
gives Baltic companies greater visibility and ease of access to capital,
combining the benefits of being on-market with simplicity.
A substantial investor base is supported by the fact that all the members of
the OMX Baltic Markets in Tallinn, Riga and Vilnius will have access to First
North in the Baltic countries. First North brings a wider range of investment
possibilities to the investors. Investing on the alternative market may involve
a higher risk but can also provide a better return. Therefore investing may
require a more detailed analysis and preparation.
“Through First North we make it easier for the growing companies to raise
capital. This supports the economic growth and benefits the entire region. The
expansion of First North gives the investors a wider variety of investment
opportunities. For the companies, First North can be seen as a first step
towards the main markets,” says Jukka Ruuska, President of OMX Nordic Exchange.
Each company on First North must have a designated Certified Adviser. The
advisers continuously monitor the companies with regard to their fulfillment
and compliance with the First North requirements, being an intermediary between
the company, the exchange and the investors. A list of the Certified Advisers
will be made available on the website of First North from which the companies
will be able to choose an appropriate adviser.
“This is our answer to a growing demand from the market participants for more
investing possibilities in the Baltic securities market. For the small- and
medium-size companies First North will be an excellent alternative to raise
capital, increase visibility and recognition to accelerate the growth of the
business. With First North, OMX takes an important step to a stronger and more
integrated Nordic Baltic marketplace which will provide additional benefit for
both local and international investors,” said Johan Rudén, President of the
Baltic Market business unit at OMX.
First North is an alternative market created by OMX, and has already been
launched in Denmark (2005), Sweden (2006), Iceland (2007) and Finland (2007).
The stock exchanges of Tallinn, Riga and Vilnius are currently harmonising
their market rules, and negotiations and trainings with Certified Advisers are
underway. The companies that want to join the alternative market must, as the
first step, contact a Certified Adviser or the local exchange in respective
country. First North will be launched during 2007 in the Baltic countries.
For more information, please contact:
Tex Vertmann, Communications Manager
Tallinn Stock Exchange +372 640 8862
Āris Dreimanis, Head of Corporate Communications
Riga Stock Exchange +371 7212431
Gintare Blazyte, Communication Manager
Vilnius Stock Exchange +370 5 272 13 71
About OMX | OMX is a leading expert in the exchange industry. Through the
Nordic Exchange, OMX offers access to approximately 80 percent of the Nordic
and Baltic securities market. The Nordic Exchange is a term used for marketing
purposes and is not a legal entity. It describes the common offering from the
Helsinki Stock Exchange, Copenhagen Stock Exchange, Stockholm Stock Exchange,
Iceland Stock Exchange, Tallinn Stock Exchange, Riga Stock Exchange and Vilnius
Stock Exchange. OMX' integrated technology solutions cross the transaction
chain enabling efficient securities transactions for over 60 exchange
organizations in more than 50 countries. OMX is a Nordic Large Cap company in
the Financials sector on the OMX Nordic Exchange. For more information, please
visit www.omxgroup.com
