Vilnius/Riga/Tallinn, Nasdaq Baltic Market, June 26, 2025 – Nasdaq (NDAQ) announces that as of June 26, the Nasdaq Vilnius Stock Exchange will list bonds issued by UAB S3 Business, a company managed by SBA Urban, on the Nasdaq Baltic First North market for the Hermanas business center.
Through a public bond offering in Lithuania, Latvia, and Estonia, SBA Urban raised €7 million. Each bond has a nominal value of €1,000, an annual interest rate of 8% paid semi-annually, a maturity of 2.5 years, and a redemption date of November 29, 2027.
The issuance attracted strong interest from both retail and institutional investors – demand exceeded supply by 2.2 times. The initial goal was to raise €5 million, but after receiving over €11 million in applications, the issuance was increased to €7 million. In total, 287 investors acquired the bonds: 208 from Lithuania, 48 from Latvia, and 31 from Estonia. The average investment amount was €24,390.
“SBA Urban’s debut on the First North market is a great example of how ambitious real estate projects can leverage capital market opportunities. Investor confidence shows that sustainable, innovative projects like ‘Hermanas’ are highly valued. We hope this step will inspire other growing companies in the region,” said Gediminas Varnas, President of Nasdaq Vilnius.
“The Hermanas business center is highly anticipated in the market – as evidenced by the strong investor interest in the bond issue. With limited supply of Class A office space in Kaunas, this project opens a new opportunity in the city’s fastest-growing district. The funds raised will allow us to confidently continue construction and offer the market a modern, sustainable, and community-oriented work environment later this year,” said Andrius Mikalauskas, Head of SBA Urban’s investment direction Urban LIVE.
About SBA Urban and S3 Business
SBA Urban is a company within the SBA Group that has been active in real estate since 2007, having developed over 280,000 sq. m. of commercial, residential, and public-use properties. The company is known for its advanced architecture, sustainability principles, and community focus. SBA Urban projects are created in collaboration with world-class architects and aim to shape urban spaces that meet modern needs.
S3 Business is a company managed by SBA Urban, responsible for developing the modern Hermanas business center in Kaunas. The project stands out for its sustainable architectural solutions, innovative workspaces, and focus on community and employee well-being.
About Nasdaq
The Nasdaq First North market is designed for growing companies seeking to raise capital and increase visibility. For investors, it offers the opportunity to participate in companies’ growth stories from early stages.
Nasdaq Baltic provides joint offerings from Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius stock exchanges, and Nasdaq CSD. More information: nasdaqbaltic.com
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Media Contacts:
Eglė Juškaitė
Nasdaq Vilnius
Marketing and Communications Manager
egle.juskaite@nasdaq.com
+370 618 17811