Join Eleving Group’s journey!

An Initial Public Offering (IPO) is when a private company lists its shares on a stock exchange for the first time, making them available for purchase by the general public. The main goals of an IPO are to raise capital for future growth and provide liquidity for early investors.

The share price in an IPO is determined through a collaborative process involving the company, its financial advisors, and underwriters. Initially, the company's value is assessed based on comprehensive analysis, including financial performance, market conditions, and growth potential. Professional advisors use this analysis to propose a price range.

This proposed range is then refined through consultations with institutional investors, who provide feedback and analysis based on their market insights and investment criteria. The share price in the Eleving Group’s IPO is set at the range of EUR 1.60 -1.85 by balancing the company's valuation with the demand indicated by these investors, ensuring an optimal balance between raising capital and offering an attractive entry point for investors. The final offer price will be determined through a book-building process and will be the same for investors in both retail and institutional offerings.

It is an opportunity to invest in a fast-growing, experienced global business established in the Baltics and benefit from its growth through a potential share price appreciation and regular dividends as the company continues to expand.

Key reasons to become a part of Eleving Group’s journey:

1. Target dividend payout twice a year with a target payout ratio of 50%+ from the profits.
2. You will invest in a company with over a decade of experience in global capital markets.
3. You will join a global investor community that includes financial institutions, banks, investment funds, family offices, high-net-worth individuals, and more than 20,000 retail investors.
4. A profitable business since 2016 with an annual net portfolio growth rate of 26%. The company is expecting to keep the annual growth rate over 20% in the next three years, almost doubling its profit by the end of 2026.
5. Diversified business portfolio and risks across 16 markets and 3 continents.
6. International management team with a well-established and transparent governance structure.

All investments carry risks, including those associated with market conditions, macroeconomic factors, and geopolitical events. For Eleving Group, specific business risks include market competition, regulatory changes, and economic downturns. However, the company mitigates these risks through a diversified global presence and stringent customer due diligence, which supports a high-quality loan portfolio. Detailed risk factors are outlined in the Prospectus.

The minimum investment amount is one share. The maximum investment amount is the total volume of the IPO, which is set at 24.5 million shares. In the event of oversubscription, allocations may be reduced proportionately.

Eleving Group has set a number of growth targets for the coming years:

• Roll out SME financing product in existing European markets – launch the first market in early 2025.
• Further launch new markets across the world.
• Explore potential M&A opportunities to speed up the growth.
• Become a leading electric motorcycle financier (financing new EVs and retrofitting used petrol bikes) in Eastern Africa.

Eleving Group’s dividend policy entails paying out dividends to shareholders twice a year: interim dividends based on unaudited six-month financials and annual dividends based on audited twelve-month statements. The targeted payout ratio ranges from 30% to 50%, depending on the equity ratio. Specifically, for a 50% payout ratio, the equity ratio after dividends must be above 25%. In exceptional cases, a higher payout ratio may be considered if the equity ratio post-dividends is above 25%. The policy is designed to balance rewarding shareholders, business needs, economic conditions, and compliance with financial covenants.

For more information, please refer to our Dividend policy.

The Prospectus chapter II provides a detailed explanation of the Eleving Group’s risk management approach.

The share capital of the Group is indirectly held by the four founders of Eleving Group (approximately 87%) and by present and former employees of Eleving Group.

The largest shareholders as of 30 September, 2024:

Eleving Group has four vehicle financing and service brands, including Primero, Renti, OX Drive, and Mogo, the flagship brand. In the consumer segment, Eleving Group operates under the Kredo, Sebo, Tigo, and ExpressCredit brands.

Eleving Group ended 2023 with a net profit EUR 24.5 mln, a 32% increase compared to 2022. Meanwhile, the 6M 2024 was closed with a net profit of EUR 15.4 mln, a solid 25% increase compared to the corresponding reporting period a year ago.

Eleving Group ended 2023 with a revenue of EUR 189.3 mln, up 8% compared to 2022. Meanwhile, 6M 2024 closed with an all-time-best half-year revenue of EUR 102.0 mln, over a 21% increase compared to 6M 2023.

Eleving Group ended 2023 with EUR 81.8 mln in EBITDA (adjusted EBITDA – EUR 77.5 mln), while in 6M 2024, the Group reached the historically strongest six-month results of EUR 46.8 mln (adjusted EBITDA – EUR 43.6 mln), an impressive leap of around 28% compared to the corresponding reporting period a year ago.

As of the end of 6M 2024, Eleving Group’s net portfolio was EUR 342.5 mln.

As of the end of 6M 2024, Eleving Group had an active client base of over 298,000 clients worldwide, while the historic client base was around 1.3 million.

Eleving Group was founded in 2012 in Latvia as Mogo Finance and bears its current name since 2021.

The Prospectus and other documents for inspection are published on https://eleving.com/investors and https://ipo.eleving.com websites.

Headquartered in the Baltics and domiciled in Luxembourg, Eleving Group boasts a strategic geographical presence. The business is navigated by an international and seasoned management team with broad fintech business experience and a global perspective.

Vehicle and Consumer financing businesses have separate management teams. Having the largest operational volume and geographical outreach, Vehicle business operations are managed through two regional hubs – Europe, and Africa & Asia.

Eleving Group’s management board consists of Modestas Sudnius (Chief Executive Officer), Maris Kreics (Chief Financial Officer), Sébastien François (Category B Member), and Delphine Marie-Paul Glessinger (Category B Member).

The Group’s Supervisory board consists of international and experienced fintech and investment community experts - Marcis Grinis is Chairman of the Supervisory Board, while Lev Dolgotsjov and Derek Urben are members of the respective governance structure.

For more details please refer to the Group’s website Governance section.

Eleving Group is being audited by BDO.

Eleving Group is a company of 10 different brands and products spread across vehicle and consumer financing. Rental, leaseback, car loans, and car sharing are at the core of our business. Our products are adjusted to different market realities in our markets. For more details please refer to the Group’s website About section.