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Nasdaq Baltic Welcomes MADARA Cosmetics to First North

Riga/Tallinn/Vilnius, Nasdaq Baltic Market, November 10, 2017Nasdaq (Nasdaq: NDAQ) announces thattrading in MADARA Cosmeticsshares(short name: MDARA) commenced today on the Nasdaq First North market in Riga. MADARA Cosmetics belongs tothe consumer goods sector andis the second company to be admitted to trading on Nasdaq’s First North Baltic Share List this year.

The listing of MADARA Cosmetics shares follows the company’s initial public offering, which ended on November 3, 2017. Total demand for shares represented 2.6 times the offer base.AllMADARA Cosmetics’ currently outstanding shares will be admitted to trading on the Baltic First North market.

MADARA Cosmetics, founded in 2006, is the local pioneer in the field of natural cosmetics. In 2016 and 2017 the company and its managers were ranked among the top-10 Most Admired Business Leaders in Latvia. MADARA develops and manufactures all products exclusively at its own laboratories and facilities to ensure 100% control over processes. Further evidence of its passion for quality and perfection in every detail are the company’s ECOCERT organic certification, GMP and ISO standards, and in vitro and in vivo research.For more information, visithttp://ift.tt/2yMUB9L.

“The whole IPO process made us feel that we’re going in the right direction, and now a new page in the company’s development has been turned. This step will help us implement our strategy and goals faster and at a higher level. We’re extremely excited about the value that the new shareholders can add to our activities,”says Uldis Iltners, the CEO of MADARA Cosmetics.

“MADARA Cosmetics is a new generation company with a distinctive approach and ambitious vision for development. The company’s impressive debut on the First North market, not only attracting new share capital but also reaching more than 700 investors, is strong confirmation of that,”notes Daiga Auziņa-Melalksne,Head of Exchange Services at Nasdaq Baltic and the CEOof Nasdaq Riga. “We congratulate MADARA Cosmetics and its shareholders on this important milestone. We’re delighted that an enterprise with roots in Latvia has chosen Nasdaq Riga and the Baltic capital market as a platform for its further growth.”

It is refreshing to see the growing interest of regional investors, both retail and institutional, towards exciting SME companies such as MADARA Cosmetics. This is the first Nasdaq Riga First North IPO, and it gives us firm proof that Latvian companies with a sound investment case, thorough preparation and solid transparency principles can successfully source public equity capital to further expand operations and enhance international visibility,” saysIvars Bergmanis, Head of Institutional Markets at LHV Bank, the global lead manager and bookrunner of the IPO.

LHV Bank has been appointed as the Certified Adviser for the company on First North and will also be providing a market-making facility.

First North is tailored to support smaller, growingcompaniesthat 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 interesting stage of their growth. First North is an alternative market and is often seen as a first step towards trading on the main market.

About Nasdaq First North 
Nasdaq First North is regulated as a multilateral trading facility, operated by the different exchanges within Nasdaq Nordic and Nasdaq Baltic. It does not have the legal status of an EU-regulated market. Companies at Nasdaq First North are subject to the rules of Nasdaq First North and not the legal requirements for admission to trading on a regulated market. The risk in such an investment may be higher than on the main market.This can also mean higher earnings potential on investments.

About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to 3,900 total listings with a market value of $12 trillion. To learn more, visit:  business.nasdaq.com.

Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB, Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. 

Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com.

Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. 

Media Relations Contact:
Dace Bulte
+371 67 212 431
dace.bulte@nasdaq.com

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