Initial public offering of the shares of Hagen Bikes Holding

Ellex Partner Gerli Kivisoo and Associate Georg Kuusik advised Hagen Bikes Holding AS on the initial public offering of its shares.

Until December 10, Estonian investors can subscribe for Hagen Bikes shares. The subscription price is €2.64 per share. The company is planning to raise half a million euros.

Hagen aims to promote the use of bicycles in the urban environment and to make bicycles the preferred means of transport for all those whose daily activities include carrying children, a training bag and a weekly shopping cart. The gear wheels developed by Hagen are innovative, comfortably designed, light and fast.

“Hagen has reached a phase of rapid growth and plans to significantly increase production volumes and expand into Europe’s largest bicycle markets – Germany and France – in the coming years. There we see the potential to sell up to 10,000 wheels a year in the future. By offering shares and admission to trading on Nasdaq, we want to share this growth story with all subscribers and future investors,” said Kaspar Peek, Member of the Management Board of Hagen.

Hagen Bikes, formerly known as KP Cyclery, was established in 2014 in Denmark, where an Estonian bicycle visionary Kaspar Peek started to produce bicycles.