Debut of FREEDOM FINANCE UKRAINE as an underwriter
On October 22, 2021, the initial placement of corporate bonds of series D of the leasing company ESKA CAPITAL took place. The investment company FREEDOM FINANCE UKRAINE became an underwriter for the first time since receiving an indefinite license to carry out such activities in March 2021.
ESKA CAPITAL is a leader in the Ukrainian leasing market in the segment of micro and small business financing. This year’s bond issue was the fourth in the issuer’s history, and FREEDOM FINANCE UKRAINE LLC, accompanied the initial public offering of these securities. Working with the underwriter is a new experience for ESKA CAPITAL, the issuer carried out previous issues independently.
As an underwriter, FREEDOM FINANCE UKRAINE has set itself the ambitious task of placing the issue among a wide range of investors. They were offered to buy securities on the primary market from a new issue with an initial simple yield of 16% per annum. The offer was particularly advantageous, given that in the secondary market it may fall to 14.5-15% per annum. The investment company managed to fill in the application book a few weeks before the placement.
In total, investors were offered 100 thousand securities. The total issue amounted to UAH 100 million, and the most amazing thing is that all the bonds were sold out in one day. This is the first time such a situation has developed in the stock market of Ukraine, and it perfectly confirms that he is alive.
D-Series corporate bonds were placed on the Ukrainian Stock Exchange, JSC. FREEDOM FINANCE UKRAINE as an underwriter ensured the preparation of the issue prospectus, compliance with all procedures, prompt conclusion of agreements and marketing support of the issuer before and after the listing.
“For FREEDOM FINANCE UKRAINE, the debut participation as an underwriter in the initial public offering of ESKA CAPITAL bonds is a step towards the development of our stock market. Currently, 1-2 public offerings are held in Ukraine per year, so we are happy to join the offer from one of the fastest growing issuers. The team of FREEDOM FINANCE UKRAINE, with the participation of colleagues from Freedom Finance JSC (Kazakhstan), the underwriter together with the issuer organized an open placement of bonds through an auction on the Ukrainian Stock Exchange” — summed up the CEO of FREEDOM FINANCE Maryna Bartoshek.