Starting today, the bonds of Mapon, a Draugiem Group company, are included in the Nasdaq First North bond list and traded on the stock exchange. Mapon is the leading fleet management and asset-tracking solution provider in the Baltics and one of the top companies in the industry in Northern Europe.

“Since issuing bonds in early 2024, we have strengthened our leadership positions in the Baltics by acquiring companies in Europe and partnering with such major logistics industry players as KRONE and Schmitz Cargobull. Draugiem Group has had a good experience attracting global investors. It has created Printful, attracted investments to grow Vendon, which is being bought by the global public company Azkoyen, and invested in the cosmetics company Prime Prometics and developmental toys brand IGLU, both of which have seen rapid growth since then. The issuance and offering of bonds is the next well-considered step for our team,” says Dāvis Siksnāns, CEO at Mapon.

“We would like to congratulate Mapon on a confident debut in the First North market – another Latvian company is now listed on the stock exchange. Notably, Mapon is the first of the many Draugiem Group companies to debut on the local stock exchange, showcasing investors' readiness to support its growth. We look forward to seeing other Draugiem Group companies join the stock exchange, including the first unicorn founded in Latvia. We wish success to the experienced and ambitious Mapon team,” says Liene Dubava, Chief of the Management Board of Nasdaq Riga Stock Exchange.

Each bond holds a nominal value of EUR 1,000 and provides an annual coupon rate of 5% + 3 months EURIBOR, payable quarterly. The bonds mature on March 8, 2027.

In March 2024, Mapon announced that it was issuing a 3 million EUR bond with the aim to list the bonds on the Nasdaq Riga First North within a year. The bond issue was organized in cooperation with Signet Bank, legal advisor COBALT, and collateral agent Eversheds Sutherland Bitans. The long-term bonds with principal repayment at the end of the term provide Mapon with additional working capital to expand its business further. It also enables the company to quickly react to potential acquisition opportunities. The demand from investors exceeded the bonds offered almost three times.

Mapon, a Draugiem Group company, is one of Northern Europe’s leading fleet management and asset-tracking solution providers. The company has over 30,000 clients and a broad network of partners across Europe, the US, Latin America, Australia, and Africa. Mapon employs more than 200 professionals in offices in Latvia, Lithuania, Estonia, Finland, Sweden, Denmark, and Spain. The company’s turnover in 2024 was 19.7 million EUR. In September 2024, when Dāvis Siksnāns was appointed chief executive at Mapon, the company owners highlighted his previous experience attracting significant global investments at Printful, where Siksnāns worked as CEO for a decade. 

Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.