Tallinn, Estonia, 2011-04-07 09:00 CEST (GLOBE NEWSWIRE) -- NASDAQ OMX today announced approving Law Firm VARUL as a Certified Adviser on the Baltic alternative market First North. As of now, altogether 19 Certified Advisers are acting on First North in the Baltic countries.
“Joining First North is a vital step that allows us to respond to our clients growing interest in finding alternative financing for their businesses” says Ants Mailend, Head of Banking & Finance at Law Firm VARUL.
Kalle Viks, the Head of Issuer Services of NASDAQ OMX Tallinn, adds: „We are happy to welcome new adviser on alternative market. Recent active participation in different contests and workshops for start-up companies indicates that there are plenty of good business ideas worth financing. Thus we encourage all SMEs with additional financing needs to discover and recognize alternative market.“
First North gives growth companies easier access to equity capital and visibility in the Baltic financial markets. The companies admitted to trading on First North are given the same possibilities as companies listed on a regulated market, but the regulations are lighter. A company is required to have Certified Adviser, supporting the company in complying with the disclosure requirements and other rules, so that investors have sufficient amount of information in order to take informed investment decisions.
There are 19 Certified Advisers acting on First North in the Baltic countries. Nine of them provide services in Estonia (Cresco Väärtpaberite AS, Deloitte Advisory, Law Firm Aare Raig, Law Firm LAWIN, Law Firm SORAINEN, Law Firm VARUL, AS Redgate Capital, SEB Enskilda and Swedbank), four in Latvia (Advante Corporate Finance, Ardente, Eventus Corporate Finance and SEB Enskilda) and six in Lithuania (Baltijos įmonių finansai, Deloitte Lietuva, GILD, SEB Enskilda, Swedbank and Verslo konsultacijų centras).
About Law firm VARUL
Law Firm VARUL is a leading full-service Baltic business law firm with offices in Tallinn, Tartu, Riga and Vilnius. The firm employs a total of sixty five attorneys and lawyers and is focused on advising both domestic and international clients on all aspects of business law. The firm’s Banking & Finance, Corporate/M&A, Insolvency & Restructuring, EU & Competition Real Estate & Construction, Tax and Litigation practices are highly ranked by international legal directories.
About First North
First North is an alternative marketplace operated by NASDAQ OMX Nordic and Baltic stock exchanges. Alternative market does no have the same legal status as a regulated market in the EU. Companies traded on First North have to follow the rules of First North instead of the requirements for a regulated market.
NASDAQ OMX Tallinn
Market Services
+372 6408800
Law Firm VARUL
Ants Mailend
Partner, Attorney-at-Law
+372 626 4300
www.varul.com