Latvian Mapon bonds are listed on the First North market

 

As of today, bonds of Mapon, the largest provider of fleet management solutions in the Baltic States, are listed on the Baltic First North market on Nasdaq Riga.

Mapon is a Latvian company founded in 2004. Now it is one of the largest providers of solutions required for professional fleet management, focusing on the transportation and logistics segment. The company has more than 30K customers and an extensive network of partners in Europe, USA, Latin America, Australia and Africa.

Mapon is the second largest company in the Draugiem Group and the first to list its shares on the local stock exchange and to demonstrate investors' willingness to invest in its development.

Baltic First North on Nasdaq Riga is an alternative marketplace designed for small and medium-sized companies that want to become public companies. It is a "light" version of the stock exchange, where the company's shares are publicly traded, but the requirements are much less stringent than for companies on the regulated market. 

In March 2024, Mapon attracted investors who invested €3M in the company's bonds in a private placement. The funds were used to finance acquisitions in its sector and the expansion of Mapon's European operations.

According to Mapon CEO Davis Siksnans, since the bond issue, the company has strengthened its leading position in the Baltics by establishing cooperation with European logistics giants Krone and Schmitz Cargobull and acquiring companies in this sector in Europe. Mapon's recent acquisitions include a 100% stake in Swedish technology company Interkom AB.