Specialty or the highest quality coffee roasting company AS Kalve Coffee (KALVE) announces the change of its legal form from a limited liability company (SIA) to a joint-stock company (AS), the creation of a board, as well as the increase of the company’s share capital.
Thus, the company continues to actively prepare for its planned initial public offering (IPO).
“Reorganization into a joint-stock company is one of the prerequisites we have implemented to prepare for the IPO. The proposed share offering will allow us to attract additional financial resources to ensure the further growth of the company both in Latvia and beyond its borders, offering sustainable, affordable and high-quality coffee to an ever-widening circle of people,” says Gatis Zēmanis, co-founder and chairman of the board of JSC Kalve Coffee.
Along with the change of legal form, the company’s share capital was also increased from 25 thousand euros to 100 thousand euros, and a company council was established, using part of the retained earnings of previous years. Rudolfs Strēlis has been appointed as the chairman of the board, the company’s co-founder Jānis Andersons and Justīne Lība Elferte will also work on the board. Meanwhile, Jānis Zēgners has been appointed as a member of the board, financial director.
Rudolfs Strēlis is an experienced professional who gained extensive experience in managing customer experience, innovation and financial attraction in organizations such as If Insurance, LMT, the Ministry of Economy. Justine Elferte’s specialization is issues of organizational strategies, stakeholder management and interest representation. She has worked at Longenesis, the Financial Intelligence Service, the Latvian Transatlantic Organization and elsewhere. As a financial professional, Jānis Zēgners gained experience at Airbus, as well as in several start-ups.
Wanting to become even more accessible to everyone who enjoys coffee and allowing them to directly participate in shaping our growth, in June 2024 KALVE announced plans to implement an initial public share offering in the second half of this year and raise at least one million euros.
In the first six months of 2024, KALVE has continued its current growth rate – turnover increased by 40%, while profit increased 2.6 times compared to the corresponding period last year.
Kalve Coffee’s Bold New Chapter
Ah, coffee. The ultimate liquid optimism! And now, we’ve got a steaming cup of news coming from Kalve Coffee (KALVE)—my favorite roast that’s been sautéing its way into the hearts of coffee lovers. And let me tell you, this isn’t just your run-of-the-mill coffee gossip!
Kalve Coffee has decided to ditch the limited liability company outfit like a kid throwing off their training wheels. Yes, folks! The company has made the switch from SIA (that’s Limited Liability Company for those of you still waking up with decaf) to AS, or Joint-Stock Company, which sounds fancy enough to sip your ristretto while discussing stock market trends!
IPO? More Like ‘I Prefer Overpriced’—Or Do I?
Now, why the change, you might ask? Well, it’s all part of the master plan leading up to their much-anticipated initial public offering (IPO). And believe it or not, it’s not just to make investment bankers happy, although I hear that’s a full-time job in itself!
The golden words came from Gatis Zēmanis, co-founder and chairman, who stated that this reorganization is a key ingredient in their recipe to brew up some serious capital. “The proposed share offering will allow us to attract additional financial resources,” he announced, perhaps while clutching a freshly roasted bean as if it were a magic wand.
Raising the Capital, One Coffee at a Time
And speaking of magic, they’ve increased their share capital from a humble €25,000 to a heartier €100,000. Now that’s what I call a growth spurt! It’s like a coffee bean transforming into a lush plant, or perhaps a teenager growing taller—much to the surprise of their startled parents.
But it’s not just about numbers on a balance sheet; it’s about the bean counters behind those numbers! Enter Rudolfs Strēlis, the newly appointed chairman of the board, who’s got a CV fancier than a Barista’s apron. With experience in customer service and financial wizardry at places like If Insurance and LMT, he’s the Gandalf of the coffee boardroom!
And let’s not forget Justīne Lība Elferte and Jānis Zēgners. Justīne comes with a toolbox of strategic tactics, probably including a megaphone to shout “more coffee for everyone!” and Jānis, the financial director, who’s got Airbus on his resume—which makes him the real Tony Stark of coffee finance.
Your Coffee, Your Choice!
The big goal? To make high-quality coffee accessible to everyone, which, let’s be real, is a lot easier than teaching your parents how to use Instagram. By June 2024, KALVE aims to launch their IPO—raising at least €1 million to continue their world domination, one cup at a time.
Brewing Success with Numbers
In the first half of 2024, things are looking hot! KALVE has seen a 40% increase in turnover and profits have skyrocketed a staggering 2.6 times compared to the same period last year. So sip on that, investors!
You know, I’ll never understand all the numbers and graphs, but it’s clear Kalve Coffee isn’t just pouring hot water over ground beans; they’re brewing a strategy to conquer the caffeine-loving world! So, grab your mugs, folks—this coffee company is taking us on a ride!