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The Warsaw Stock Exchange awarded Novaturas Group a special prize for last year’s dual-listing on the stock exchanges in Warsaw and Vilnius. The award was presented to Novaturas CEO Audronė Keinytė during the 2018 Stock Market Review Gala on 26 February 2019.
Each year the Warsaw Stock Exchange awards issuers stock exchange members and authorized advisers for special contributions to the development of the Polish stock market.
We are pleased to announce that Novaturas is among the companies awarded during the 2018 Stock Market Review Gala, which was held by the Warsaw Stock Exchange last Tuesday, 26 February 2019.
Novaturas received a special prize for its 2018 dual-listing on the Warsaw Stock Exchange and Nasdaq Vilnius. The company debuted on the Polish and Lithuanian stock exchanges on 21 March 2018, following the initial public offering of Novaturas shares which took place in Poland, Lithuania and Estonia. The offering covered 27% of the Company’s existing shares and its total value amounted to EUR 22.1 million (approx. PLN 92.9 million).
“We are very pleased and honoured that the dual-listing of Novaturas on the Warsaw and Vilnius stock exchanges is considered an important event for the Polish stock market. It indeed was a major achievement for us. It was the first IPO offered to investors in three countries and the first sizeable IPO in Lithuania since 2010. As a listed company, we became an even more credible partner for our clients as well as business and the financial community. During the IPO, Novaturas shares were acquired by hundreds of investors. I am confident that thanks to our transparent performance and communication we will attract even more investors who will want to participate in our further development,” said Audronė Keinytė, CEO of Novaturas.
Novaturas has been recently awarded also by Nasdaq Baltic, the operator of the stock exchange in Vilnius, for the Company’s debut on the Baltic Main Market in Lithuania. The winners of the “Nasdaq Baltic Awards 2019” were announced during the biennial ceremony held in early February 2019.
Novaturas Group is the leading tour operator in the Baltics states. Since 21 March 2018, Novaturas shares have been dual-listed on the Warsaw Stock Exchange and on Nasdaq Vilnius.
Novaturas was established in 1999, became the market leader in the Baltics in 2004. Aside from the Baltics, Novaturas has begun offering its products in Belarus, where they are retailed through local partners.
Novaturas continues to attract new clients thanks to its attractive and diverse offering and the high quality of its services. The Group offers both summer and winter package holidays as well as sightseeing tours by coach or plane to more than 30 destinations worldwide, including the most popular holiday resorts in Southern Europe as well as select locations in North Africa, the Middle East, Asia and Latin America.
The Group's strategy also aims to retain diverse and complementary distribution channels. Novaturas works with over 400 travel agencies, including all of the major agencies in the Baltics, and more than 60 in Belarus. It also operates retail offices of its own in main cities of Lithuania, Latvia and Estonia, and is investing in further development of its e-commerce channel.
The Company’s asset-light business model, which is characterized by strong cash flows from operating activities and low capital expenditures, allows it to pay out a large part of its earnings to shareholders. Paying regular dividends is one of the key elements of the Company's strategy. Every year the Management Board expects to propose for distribution 70% – 80% of the Company’s net profit.