Several growth companies on Estonia’s Tallinn Stock Exchange (Nasdaq Tallinn), including Clevon, ELMO Rent, and Hagen Bikes, saw significant losses in 2022, ERR reports. ELMO Rent’s annual turnover was only half of the forecasted amount, resulting in losses that were more than double the expectations. Despite the declining share prices and growing panic among shareholders,…
Lithuania’s foreign direct investment (FDI) development agency, Invest Lithuania (Investuok Lietuvoje), approved 26 FDI projects in the first half of 2023, LRT reports. The agency reported that 12 new foreign companies have announced investments in Lithuania, and 14 foreign firms already operating in Lithuania plan to expand. The investment projects are expected to create more…
Lithuania’s state-owned energy group, Ignitis Grupe, will invest EUR 25mn in energy and climate change startups over ten years through Germany’s World Fund, Baltic News Network reports. The group has signed an investment management agreement with WF World Fund Management. Earlier, Ignitis Grupe announced that World Fund would manage the group’s second venture capital fund….