Vilnius/Tallinn/Riga, Nasdaq Baltic Market, September 4, 2025 – Nasdaq (NDAQ) announces that as of September 4, the Nasdaq Vilnius Stock Exchange has admitted bonds issued by HISK to trading on the Nasdaq Baltic First North market.
Through a public bond offering, HISK raised EUR 8 million. Each bond has a nominal value of EUR 1,000, an annual interest rate of 9%, and interest will be paid to investors quarterly. The bond maturity is 2 years and 9 months, with a planned redemption date of April 22, 2028.
The bond issue was available to both retail and institutional investors in Lithuania, Latvia, and Estonia, and it marks the first issue of this scale by an infrastructure development company in Lithuania. Among all investors, 61% were retail and 39% institutional. The bond placement was managed by Artea Bank, with legal counsel provided by the law firm TEGOS.
“We congratulate HISK on the successful bond issuance and listing on the First North market. We are pleased to see companies like HISK, which implement infrastructure projects important to the Baltic region, choosing the capital market as one of their financing options. Listing on the First North market not only helps diversify funding sources but also increases transparency and visibility in the eyes of investors,” said Gediminas Varnas, President of Nasdaq Vilnius.
“Interest in our bond offering exceeded even the highest expectations: investors submitted orders for the entire EUR 8 million issue. This proves that capital market participants in the Baltics are interested in infrastructure companies with long-standing experience that operate under modern management principles. We are confident that listing on the First North market will not only boost investor confidence and liquidity but also positively impact future project financing,” said Robert Ziminski, CEO of HISK.
About HISK
HISK is one of the largest general contractors and project management companies in infrastructure construction in Lithuania. In 2024, the company’s revenue reached EUR 138.9 million—1.8 times higher than the previous year. Compared to 2022, revenue growth stands at 3.3 times. In 2024, HISK reported EUR 1 million in net profit and an EBITDA of EUR 4.8 million.
In recent years, HISK has been entrusted with several strategic infrastructure projects in Lithuania. Among the latest signed contracts are Rail Baltica projects: a 12.1 km section of the Šėta–Ramygala railway embankment with structures, valued at EUR 100.9 million (incl. VAT), and an 8.5 km section of the Kaunas–Šveicarija railway embankment with structures (part 1), valued at EUR 118 million (incl. VAT).
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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
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Media Contacts:
Egle Juskaite
Nasdaq Vilnius
Marketing and Communications Manager
egle.juskaite@nasdaq.com
+370 618 17811