NASDAQ OMX Riga informs that as of today, audit firm “Baker Tilly Baltics” has been approved a Certified Adviser of the alternative market First North in Latvia.
„On alternative market, Certified Adviser is a key element. It serves as a bridge between the company and the stock exchange. This is why we are happy for “Baker Tilly Baltics” to join our list of Certified Advisers. We believe that having a wider list of Certified Advisers will lead to a greater awareness among companies in Latvia of the possibilities to raise capital on alternative stock market. The experience of “Baker Tilly Baltics” and its expertise in providing financial advice is expected to encourage more companies to follow the example of “Goldinvest Asset Management” – the first company that joined First North last year,” believes Liene Dubava, a NASDAQ OMX Riga Management Board Member.
Ēriks Bahirs, Chairman of the Management Board, “Baker Tilly Baltics”, adds: „During 13 years in the business, “Baker Tilly Baltics” has built its experience annually auditing over 100 companies across Latvia, including medium-size as well as large companies that are listed on the stock exchange Secondary List, e.g. “Latvijas Balzams”, “Daugavpils Lokomotīvju Remonta Rūpnīca” and “Latvijas Tilti”. Apart from that, “Baker Tilly Baltics” provides other professional services, such as tax consultancy, financial accounting, restructuring and other services related to business development. Therefore I am convinced that we shall succeed in establishing a good co-operation with the companies that, we believe, could benefit from being listed on the alternative market First North - be that investments that they seek for their business expansion or publicity.”
To join the alternative market, a company is required to cooperate with a Certified Adviser operating at the First North. The main task of Certified Adviser is to support the company in complying with the disclosure requirements or other market rules, so that investors have sufficient amount of information in order to take high quality investment decisions.
As of today, four Certified Advisers are operating in the alternative market in Latvia: “Ardente”, “Eventus Corporate Finance” and “SEB Enskilda”, and “Baker Tilly Baltics”. Altogether 15 Certified Advisers are operating in First North in the Baltic countries.
About “Baker Tilly Baltics”
“Baker Tilly Baltics” has been operating in Latvia since 1999, providing audit and audit-related services, e.g. tax consultations, accounting services, payroll calculations, corporate finance and financial legal advice. “Baker Tilly Baltics” ranks No7 in Latvia in the audit firm top 10 (according to sales). Combined with its Lithuanian and Estonian partners, “Baker Tilly Baltics” has altogether 8 offices located in Riga, Jelgava, Daugavpils, Tallinn, Tartu, Vilnius, Klaipeda and Kaunas with over 50 employees providing services to the clients.
“Baker Tilly Baltics” is a lawful and independent member of the auditor association “Baker Tilly International”(www.bakertillyinternational.com). “Baker Tilly International” is a global network of high quality, independent accountancy and business advisory firms, all of whom are committed to providing the best possible service to their clients, in their own marketplaces and across the world.
“Baker Tilly International” is the world`s 8th largest accountancy and business advisory network, with a combined fee income of its independent members amounting to USD 3.13 billion. It is represented by 147 independent firms in 114 countries with 26 000 people worldwide.
About First North
First North is an alternative marketplace operated by NASDAQ OMX Nordic and Baltic stock exchanges. Alternative market does not 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. In the Nordic countries, as many as 123 companies are already traded on First North.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/nasdaqomx) and Twitter (http://www.twitter.com/nasdaqomx).
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Aris Dreimanis, Communications Manager
NASDAQ OMX Riga +371 67 212431
aris.dreimanis@nasdaqomx.com