Mapon issues a EUR 3 million bond

The leading fleet management provider in Northern Europe, Mapon AS has completed its EUR 3 million bond issue. The bond issue attracted strong investor interest, with total demand exceeding the issue size by 3 times, and orders were received from institutional and retail investors.

The proceeds from the issue will be used for development of the company’s strategies through the acquisition of new companies and expansion of its operations in Europe.

Signet Bank acted as the arranger of the bond issue. It is expected that the bonds will be listed on Nasdaq Riga’s First North Alternative Market within a year.

Legal assistance in connection with the issuance of bonds was provided by COBALT Banking and Finance team including Partner Edgars Lodziņš, Senior Associate Krišjānis Bušs and Associate Maira Pužule.

Mapon is one of Northern Europe’s leading fleet management and asset tracking solution providers. Since its foundation, Mapon has significantly extended its operations through the acquisition of companies abroad.

The company has more than 27 thousand clients and an extensive partner network in six continents that have collectively tracked more than 36 billion kilometers using Mapon solutions. Presently, Mapon has a workforce exceeding 190 individuals and stands as the Draugiem Group’s second-largest company.

Mapon announcement.