Novaturas, the largest tour operator in the Baltic states, made its debut on the Warsaw Stock Exchange on 21 March 2018. NBS had the pleasure of participating in this journey as main PR advisor, being responsible for the preparation and implementation of the promotion campaign supporting the IPO.
Novaturas made its debut on the Warsaw Stock Exchange and Nasdaq Vilnius following the initial public offering of the Company’s shares carried out simultaneously in Poland, Lithuania and Estonia. The value of the offering amounted to over EUR 22 million (approx. PLN 93 million), making it the first sizeable IPO in Lithuania since 2010.
NBS was responsible for the preparation and implementation of a comprehensive information and promotion campaign supporting the IPO, including the coordination of PR activities in Lithuania and Estonia.
PKO BP Securities brokerage was acting as global coordinator and joint bookrunner for the offering. Trigon DM and Swedbank were acting as joint bookrunners. PKO BP Securities served as the offering agent in Poland, while Swedbank fulfilled that role in Lithuania and Estonia.
Profile of the newcomer
Novaturas is the largest tour operator in the Baltic region, with an 18-year presence in the market. The Company’s diverse offer covers package holidays to more than 30 destinations worldwide, which are sold through a network of over 400 travel agencies as well as own sales offices and online. The Company’s strategy is focused on strengthening its leading position on the attractive and growing tourism markets of Lithuania, Latvia and Estonia. Belarus, where Novaturas has begun selling its products, also offers strong potential for further growth.
Novaturas Group’s effective business model ensures profitable and dynamic growth as well as regular dividend payouts. In 2017, the Group’s revenues grew by nearly 40% y/y to over EUR 141 million. EBITDA in this period reached EUR 10.6 million, while net profit amounted to almost EUR 8.2 million, nearly double the 2016 figures. Central European Tour Operator S.a.r.l., owned by Polish Enterprise Fund VI, a private equity fund managed by Enterprise Investors—one of the largest private equity firms in Central and Eastern Europe—has been Novaturas’ majority shareholder since 2007.
