Apax Funds-owned Baltic Classifieds Group (BCG) was admitted to the London Stock Exchange (LSE)’s main market last week.

The shares opened at 179 pence, significantly higher than the initial IPO price of 165 pence per share. Today, BCG shares are traded at 205 pence ($2.8 U.S.) per share, valuing the company at about $1.4 billion U.S.

BCG operates several leading classifieds sites in the Baltics, including auto site Autoplius.lt, real estate verticals Aruodas.lt, KV.ee, and City24.ee, general classified sites Skelbiu.lt, Osta.ee and Soov.ee, as well as recruitment site CVBankas.lt.

Apax Funds acquired the Baltic Classifieds Group from Media Group in May 2019 for about €300 million ($363 million U.S.). Later in 2019, BCC purchased in Estonia Auto24 – a company managing several leading local classified sites, including Auto24.ee, horizontal Kuldnebors.ee, weekly car magazine Autoleht.ee, and Motors24, a site for motor vehicle videos.

BCG saw revenue of €42.3 million ($51.3 million U.S.) and adjusted EBITDA of €33 million ($40 million) in FY2020. The company’s revenue and adjusted EBITDA grew 20.5% and 22.0% respectively from the twelve months ended in April 2019 to the financial year ended in April 2021.

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