The initial public offering of the shares of Primostar Group AS (registry code: 17056111, hereinafter Primostar) ended on 30 May 2025.
Up to 180,000 shares were publicly offered, whereas Primostar reserved the right to increase the number of shares on offer by 22% up to 220,000 shares in total. During the offering, 290 investors subscribed for a total of 64,964 shares for EUR 367,046.60, meaning that the planned volume of the offer was not subscribed for.
"The main goal has been achieved, because capital has been raised for the next steps in development, and with that, Primostar will have a new, broader group of owners and freely tradable shares on the stock exchange. Now it is up to our team to expand our operations, increase the value of the company and prove that the investors who have placed their trust in us made the right choice," summarized the results of the initial public offering Indrek Uusalu, founder and CEO of Primostar Group, confirming that the first priority is to enter new markets and increase exports of the patented WPM® technology.
"We are clearly a B2B company, which is why public awareness has not been very important to us so far. The questions I have been asked in recent weeks have confirmed that our field is rather complex for retail investors. We should have taken this into account more and spent more time promoting ourselves in advance," said Uusalu, commenting on the lessons learned during the IPO. "Understandably, this mistake can be corrected in the future and we will continue our communication efforts. I am quite sure that as awareness grows, our circle of shareholders will also expand over time and investor interest in Primostar will increase," he emphasized.
The revenue from the offering shall be used by Primostar according to the company description in accordance with the priority of the action, ensuring in particular that the expenditure foreseen for the first priority actions is covered.
Upon distributing the new shares all shares subscribed for by the investors shall be distributed to the investors.
The settlement of the offering is intended to take place on or about 4 June 2025. The shares of Primostar are planned to be admitted to trading on the multilateral trading facility First North, the first trading day will be on or about 5 June 2025.
For additional information please contact:
Indrek Uusalu
Primostar Group AS member of the management board
Tel: +372 518 5062
E-mail: indrek@primostar.eu