Apollo Group, the parent company of popular brands like Lido and Apollo Kino, is offering bonds to investors across the Baltic region, seeking up to €50 million to fuel its expansion plans.
The bond offering, open to both individual and institutional investors from March 3rd to March 16th, features a five-year term and a 7% annual interest rate. This move comes as Apollo Group aims to strengthen its financial position and diversify its capital structure, according to the company.
Apollo Group serves over one million loyal customers through its network of cinemas, bookstores, and restaurants. The minimum investment in the bonds is €500, with interest payments distributed quarterly. The company has the option to increase the emission by an additional €20 million if demand exceeds the initial €50 million target.
The planned emission size positions it as one of the largest public bond offerings in the Baltics accessible to a broad range of investors, including the general public. This offering highlights the growing opportunities within the Baltic capital markets.
“This bond emission will give us the opportunity to accelerate Apollo Group’s growth, strengthen our positions in our markets, develop both existing and novel concepts, and almost double the number of locations – from 170 to 300,” said Toomas Tiivel, CEO of Apollo Group.
The company has specific expansion projects in the pipeline, including a central kitchen for Lido in Riga, designed to coordinate restaurant needs across multiple countries. New bookstores and cinemas are also planned for Keila, Estonia, along with a Vapiano restaurant in the Rocca al Mare shopping center, also in Estonia. Further developments are anticipated in Estonia in the near future.
Apollo Group sees significant growth potential in Finland and Lithuania. In Finland, the company operates the Vapiano and KFC brands, which already have a strong customer base. In Lithuania, the Delano and CanCan brands are performing well with local consumers.
Signet Bank Investment Banking Head Kristiāna Janvare noted, “This bond emission marks an interesting and significant addition to the Baltic bond market. Apollo Group, as a leading entertainment and retail group in the Baltics with a strong regional presence and a clear growth potential, is expanding investment opportunities in the local capital market. More than one million loyal customers confirm the strength of the group’s brands and the sustainability of its business model. In addition to financial returns from regular interest payments, investors are given the opportunity to participate in a loyalty program, which adds additional value.”
Apollo Group’s consolidated revenue for the 2024/2025 financial year reached €227 million, a 6% or €14 million increase compared to the previous financial year. The group’s consolidated EBITDA (earnings before interest, depreciation, and amortization) was €40 million, a 12% increase year-over-year.
An investor event is scheduled for March 11th at 4:30 PM at Apollo Kino in the Riga Plaza shopping center, where attendees can learn more about the bond offering, the company’s operations, and development plans, as well as insights into trends in the entertainment and restaurant industries and the outlook for the Baltic capital market.
Subscriptions for the bonds will be accepted from March 3rd to March 16th through brokerage or investment accounts in Baltic financial institutions. Bonds will be credited to investor securities accounts on March 20, 2026, with a redemption date of March 20, 2031. Apollo Group plans to apply for listing the bonds on the Nasdaq Tallinn Baltic Bond List, which would allow for secondary market trading, with the first trading day expected around March 23, 2026.
The emission is being organized by LHV Pank in collaboration with Signet Bank.
