As of today, April 12, 2012, bank Finasta will become a liquidity provider for JSC Olainfarm shares that are listed on NASDAQ OMX Baltic Main List. Olainfarm is the only listed company in Latvia for which shares the market making is provided.
Bank Finasta, in the capacity of market maker for Olainfarm, has committed itself to maintain a specified price on the buy and sell side during trading hours. Finasta will maintain the demand and supply for Olainfarm shares at total value of LVL 2000 with a maximum spread between the demand and supply price of 4%. Consequently, the company investors and shareholders will be able to buy or sell shares at small quantities with less influence on the price.
“Supported by NASDAQ OMX and Finasta, we give extra assurance to our existing and potential investors. This is one more step by Olainfarm towards high quality investor relations. Both our present shareholders and potential investors will benefit from the liquidity provided to our listed shares,” believes Salvis Lapiņš, a JSC Olainfarm Member of the Board.
Market making is a common practice to promote trading. Currently Orion Securities and now also Finasta are liquidity providers in the Baltic market. Now four Baltic listed companies have market makers: Olainfarm, City Service, Grigiskes, Vilkyškiu pienine and market making is provided also for the OMX Baltic Benchmark Fund units.
„Liquidity providing is not a common practice in the Baltic stock exchanges, and this is why we see here an opportunity to promote this financial service. Bank Finasta is actively expanding the range of services it is providing, thereby trying to find the most appropriate financial service for each individual client. Also, we are willing to make our contribution towards the development of NASDAQ OMX Baltic securities market,” explains Andrej Cyba, a Finasta Member of the Board, Director of Finance Markets division
„The fact that after the economic downturn both listed companies and stock exchange members are starting to pay more attention to liquidity is an evidence of market stability and positive sentiment in general. We hope that other listed companies and stock exchange members will follow the example demonstrated by Finasta and Olainfarm,” adds Daiga Auziņa-Melalksne, Head of Exchange Services, NASDAQ OMX Baltic Market.
Already for several years Olainfarm has been working towards enhancing the investor relations quality. At present Olainfarm is the only Latvian company traded on NASDAQ OMX Baltic market that is publishing the current monthly sales data, conducting investor webinars on a regular basis, and now also is the only Latvian listed company to have a market maker.
About JSC „Olainfarm”
JSC Olainfarm is one of the largest companies in the Baltic States with 40 years of experience in production of medicinal and chemical pharmaceutical products. The key principle of the Company is manufacturing of reliable and effective high quality products for Latvia and the rest of world. Products of JSC Olainfarm are exported to more than 35 countries, including the Baltic States, Russia, other CIS countries, Scandinavian, Western European and Asian countries, as well as North America and Australia.
About NASDAQ OMX Group
The inventor and transformer of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies with revolutionary technologies for the entire lifecycle of a trade – from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 24 markets, 3 clearinghouses and 6 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to traffic more than 1 million messages per second at sub-80 microsecond speeds with 99.999% uptime, our technology drives more than 70 exchanges in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to 3,400 listed companies worth $5.1 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
About Finasta bank
Finasta is the largest investment bank in the Baltic region by assets under management and the number of private banking clients. Established in 2008 the bank Finasta specialises in investment and private banking services. The bank provides a package of investment, financial management and corporate finance services to private and corporate clients and offers tailor-made corporate lending solutions.
The bank has over 11,000 clients with their investment assets worth EUR 385 million. Finasta bank is one of the largest brokerage service providers in the Baltic region.
JSC Olainfarm Management Board Member
mob. phone +37126448873
Member of the Board, Director of Finance Markets division
phone: +370 5 2361856
NASDAQ OMX Baltic Market Services
phone: +371 67212431