The information was translated using the ChatGPT service.
In order to facilitate the raising of necessary funding for the development of businesses in capital markets, thereby increasing their international competitiveness and promoting investments in sustainable and innovative enterprises, the Cabinet of Ministers approved a new European Union Structural Funds support program for supporting companies' inclusion of equity and debt securities in the trading venue - the stock exchange, during their meeting on October 17th this year.
Attracting capital to the stock exchange promotes the growth of companies and provides them with the opportunity to attract large-scale investments for their business projects, regardless of the financial constraints of the commercial sector. It also allows them to build their image and strengthen their competitiveness in foreign markets.
Support for the issuance of shares and debt securities (bonds) will be provided in the form of grants to small and medium-sized enterprises and small and medium-sized capitalization companies for the costs of hiring consultants and services (up to 50% of the total eligible costs of the project).
The planned funding for the support program is 1,973,896 euros, consisting of funds from the European Regional Development Fund and the state budget.
By December 31, 2029, it is planned to support at least 10 companies and attract private funding of up to 2,000,000 euros. Additionally, it is expected that by implementing projects, funding will be attracted in capital markets in excess of 5,000,000 euros.
Under the program, funding recipients must ensure the successful inclusion of shares in the Baltic Official List or the Baltic Second List or in the Baltic Alternative Market "First North" of AS "Nasdaq Riga" or the successful inclusion of debt securities in the Corporate Bond List of the Baltic Official List or the Alternative Market "First North" of AS "Nasdaq Riga". An equity issue of at least 500,000 euros is considered successful.
Applications for support will need to be submitted to the Central Finance and Contracting Agency.
More information on the implementation rules of the specific support objective "Strengthening Research and Innovation Capacities and the Introduction of Advanced Technologies for Companies" of the European Union Cohesion Policy Program for 2021-2027, Measure 1.2.1.3 "Support for Company Participation in Capital Markets," can be found on the Unified Legislation Portal.