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Liven AS announces intention to conduct an initial public offering of shares and to apply for admission to trading on the Nasdaq Tallinn Stock Exchange Main List

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Liven  AS (Liven)  intends to  conduct an  initial public  offering of shares in
spring  this year and to apply for the admission to trading of its shares on the
Nasdaq  Tallinn Stock Exchange Main List. The offering is planned to be directed
at  both retail  and institutional  investors in  Estonia, Latvia and Lithuania.
Liven  intends  to  use  the  capital  raised  through  the  share issue for the
acquisition  of new  development properties  and for  the implementation  of the
company's  long-term growth  strategy. The  issue will  also enable the group to
strengthen its capital structure.

In  2025, Liven  commenced  the  construction  of nearly 300 new residential and
commercial  units, entered into 176 new sales contracts and delivered 139 homes.
Liven's  consolidated audited revenue for  2025 amounted to EUR 49.3 million and
net   profit   to  EUR  5.4 million.  As  at  31 December  2025, the  volume  of
consolidated audited assets amounted to EUR 86.5 million and equity to EUR 23.6
million.  Since spring 2024, Liven's green bonds  have been listed on the Nasdaq
Baltic Bond List. Since 2019, the group's auditor has been KPMG Baltics OÜ.

"The  objective of a share issue has  been part of Liven's plans since 2019, and
we  have been working consistently towards  it. We believe that Liven's business
model,  the company's  development and  stable growth,  and the transparency and
reliability  of a listed company complement  one another," said Andero Laur, CEO
of Liven. According to Laur, it is encouraging to see from the results of recent
years  that demand  for Liven  homes has  remained stable  even in a challenging
economic  environment. "In  recent years,  Liven has  carried out two successful
bond  issues, which have  helped us acquire  new projects and  continue with our
earlier  developments. We see that investors trust  us and, at the same time, we
also  see favourable  opportunities to  acquire new  properties, which  makes it
worthwhile  to raise capital  from the market  also in the current environment,"
said Andero Laur.

Similarly  to  Liven's  successful  green  bond  issue  carried out in 2024, the
financial  adviser and arranger of Liven's  planned public offering of shares is
AS  LHV Pank (LHV), and the legal adviser  is Ellex Raidla Law Firm. Under a 12-
month  agreement  entered  into  with  LHV,  Liven's  three founders and the two
largest  strategic key shareholders have undertaken  not to sell the shares held
by them.

The  exact timetable, volume and  share price of the  offering will be disclosed
after  the prospectus for  the public offering  and admission to  trading of the
shares  has been approved  by the Estonian  Financial Supervision and Resolution
Authority.  The exact  structure and  timing of  the offering  depend on various
circumstances  and  their  timing,  such  as  market conditions, approval of the
prospectus  by the Financial  Supervision and Resolution  Authority, adoption of
the  necessary corporate resolutions  and execution of  the required agreements.
Liven  will announce the approval of the  prospectus and the commencement of the
offering  of  the  shares,  including  the  terms  and  conditions thereof, in a
separate announcement.

This  announcement does  not constitute  an offer  or invitation  to sell or the
solicitation  of an offer to acquire any  securities. Nor will there be any sale
or  offer of shares in any jurisdiction  in which such offer, invitation or sale
would  be  unlawful  prior  to  the  approval or registration of the prospectus,
absent exemptions or qualifications contained in law.


Joonas Joost
Liven AS CFO
E-mail: [email protected] (mailto:[email protected])