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Baltic Classifieds seeks to raise €120m in London IPO

By BFN News | 09:43 AM | Friday 11 June, 2021


Website offering Baltic Classifieds details plans to float on the London Stock Exchange through a €120 million initial public offering. The IPO price wasn't disclosed. The proceeds from the float would be used to repay existing debt in conjunction. 'The business is in the Baltics, a high growth part of Europe which is becoming known as part of the "New Nordics", according to the company. 'It's understood that online classifieds businesses, which have considerable network effects, are ones where number one market positions tend to be self-reinforcing. But I have not seen within one company a collection of classifieds businesses that consistently exhibit such strong market leadership positions,' said Trevor Mather, Chair of BCG. 'Baltic Classifieds Group has leading positions in the Automotive, Real Estate and Jobs and Services verticals which, together with our leadership in generalist marketplaces, have created a truly significant competitive moat,' he added. Story provided by StockMarketWire.com

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