Baker Tilly Baltics SIA Becomes a Certified Advisor for the Alternative Market First North

7 Feb 2012

Baker Tilly Baltics SIA has been named one of just four approved certified advisors in Latvia for First North, an alternative marketplace as part of the NASDAQ OMX Nordic and Baltic Stock Exchange.

First North gives small, young, or growth companies ease of access to capital and greater visibility in the Baltic financial markets, but with less extensive regulatory demands than the Nordic list. Combining the benefits of being public with simplicity, it is often the first step towards the main market. Around 120 companies are trading on First North.

To be admitted to trade on First North, a company must appoint a certified advisor to support the company in complying with the disclosure requirements and other market rules to provide investors with sufficient information to enable them to take high quality investment decisions.

"On the alternative market the certified adviser is a key element, serving as a bridge between the company and the stock exchange. This is why we are happy for Baker Tilly Baltics to join our list of certified advisers. We believe that having a wider list of certified advisers will lead to a greater awareness among companies in Latvia of the possibilities to raise capital on the alternative stock market." believes Liene Dubava, a NASDAQ OMX Riga Management board member.

Ēriks Bahirs, chairman of the management board of Baker Tilly Baltics SIA, commented: "During 13 years in the business we have built up substantial experience, annually auditing over 100 companies across Latvia. In addition, Baker Tilly Baltics provides a range of professional services, including tax consultancy, financial accounting, restructuring and services related to business development. I am convinced that we will succeed in establishing a rewarding relationship with companies that, we believe, may benefit from being listed on the alternative market First North - whether to obtain the capital that they seek for expansion or publicity."

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