ISINNominal value of the issueAnnual coupon rateMaturity
LV00008600882 500 0006%9th May 2025

Financial report

Financial calendar

  • Unaudited 3 month review 2024
  • Unaudited 6 month review 2024
  • Unaudited 9 month review 2024
  • Unaudited annual report 2024
  • Audited annual report 2024

  • Contacts for investors

    Evija Imuna – Velde



    In 2023, SIA Banga Ltd, thanks to the Rural Support Service, started the European Maritime, Fisheries and Aquaculture Fund (2021–2027) project Investment in Processing of Fishery and Aquaculture Products, Round 1, No. 23-00-U2021901-000003.

    Modernization and expansion was set as the main fundamental objective. To achieve this fundamental objective, the following sub-objectives were defined:

    1. to increase storage areas for raw materials required for the company’s manufacturing, which would meet the food company hygiene requirement standards;

    2. to speed up processing of finished products;

    3. to expand areas for storage and processing of finished products;

    4. to improve the infrastructure of the company’s territory.

    Within the project, the company SIA Banga Ltd has built a new warehouse for finished products, which ensures more efficient preparation of finished products and provides additional space for their storage until the finished products are shipped to customers. Storage areas for raw materials have been expanded, renovating a building already situated in the company’s territory, so that it meets the food company hygiene requirement standards and it can be used for storage of raw materials necessary for production.

    Within the project, the infrastructure of the company’s territory has been improved, carrying out gravel cover asphalting works to ensure efficient and safe transportation of finished products from the production facility to the finished products warehouse and guarantee successful supply of raw materials.

    Thanks to the investment made for acquisition of production equipment, the company will be able to increase its production capacity and speed up the processing of finished products and improve the production process to create high quality products that meet the requirements of customers.

    The total eligible costs of the project constitute EUR 809,963.75, including the public funding equal to EUR 404,981.86 and private funding equal to EUR 404,981.89.


    The President of Latvia paid a working visit to Banga Ltd, one of the leading Latvian producers of canned fish

    President Working Visit To Banga

    Today, on 24 October, the President of Latvia Edgars Rinkēvičs paid a regional working visit to Banga Ltd, a local Latvian fish industry company. Together with the Chairman of the Talsi Regional Council Eva Kārkliņa, the owners of Banga Ltd Raivis and Ingus Veckāgani the President of Latvia got acquainted with the activities of the company, its technological solutions, future plans and investments, and also discussed a number of topical issues for the fish industry.

    This morning at 11:00 the President was welcomed at the Banga Ltd production plant, after which the owners of the company introduced the President to the production facilities, the more than 150 employees of the company and organised a product tasting.

    During the visit, representatives of the company talked about Banga Ltd investment and potential digitisation projects and also demonstrated the latest technological equipment at the facility. After the tour, representatives of the company had the opportunity to discuss with the President the most pressing current issues and challenges in the fish industry sector requiring state support. “There are three big issues not only for us but for the entire fishing industry at the moment – expanding export markets, reducing catches of sprat and herring in the Baltic Sea, attracting and retaining local labour”, says Raivis Veckāgans, co-owner of Banga Ltd.

    “Banga Ltd currently exports its products to more than 35 countries, including the Baltics, parts of Asia, Europe, North America and Australia. We discussed with Mr. Rinkēvičs how and whether market opportunities could be expanded with the participation of the state, and whether exports could be possible to South American countries, for example. Employment of local labour remains an issue in all sectors, so we talked about potential support from the Ministry of Economy and others in attracting and retaining workers, not only in the short term, but also in the long term. We updated on the reduction of fishing limits, which is a key issue for the long-term development of the fishing industry. We are making the most of the available state support instruments, EU funds, including the European Regional Development Fund’s programme for international competitiveness, which we hope will reopen soon,” says R. Veckāgans.

    About Banga Ltd

    Banga Ltd is a Latvian fish product manufacturing company located in Roja, Talsi Region. The company produces various types of canned fish – salmon, mackerel, sprats, herring, mussels and other products. The company sells in more than 35 countries in Europe, America, Asia and other markets.

    More information:

    Evija Imuna – Velde


    Banga Ltd bonds are included in the Baltic First North market

    1r7a6731 2048px

    From today, April 18, 2023, the bonds of SIA Banga Ltd are included in the Nasdaq Riga Baltic First North market.

    The size of Banga Ltd bond issue is EUR 2,5 million. The nominal value of bonds is 1,000 EUR with an annual coupon rate of 6%, paid out quarterly. The bonds mature in May, 2025.

    Daiga Auziņa-Melalksne, CEO of Nasdaq Riga: “We are welcoming Banga Ltd on the Baltic First North market.

    Fisheries have always played an important role in the development of the Latvian economy, therefore we are delighted that the stock exchange can facilitate the growth of another local business!”

    Ingus Veckāgans, Member of the Board of Banga Ltd: “The listing of Banga Ltd bonds on the Nasdaq First North market is the next step in our company’s progression to the public capital markets. The cash raised in the bond issue enabled the company to expand its production facilities, purchase new production equipment and increase its competitiveness in international markets. The company’s products are in demand in many countries around the world, in 2022 sales exceeded by 33.10% comparing with the previous year, and we are pleased that the company’s development is being recognised by both our global customers and investors.”

    “We are delighted with the development of Banga Ltd over the last few years, and for having the courage to raise funds through the capital market. Banga Ltd bond issue saw significant interest from both private and institutional investors from Latvia with the issue oversubscribed by 1.4 times, which demonstrates strong support from local investors to well governed local manufacturers,” Kristiāna Janvare, Head of Investment Division at “Signet Bank”.

    The main activity of “Banga LTD” is the production of sterilised canned fish. The company’s production facility is located in Roja, Talsi District. “Banga LTD” production covers the full canning cycle and it employs more than 140 people.  Exports cover 4 continents and more than 30 countries, including Europe, USA, Japan and Australia. The company’s customer base includes wholesalers and distributors, as well as international retail chains. The products are made from high-quality raw fish materials supplied from Latvian, Norwegian, Spanish, Chilean and Faroese fisheries. Product quality is confirmed by IFS (International Featured Standards), MSC (Marine Stewardship Council) and ASC (Aquaculture Stewardship Council) certifications. The company’s product range comprises more than 50 products under the BANGA brand and private labels. The company’s goals for the future years include increasing production capacity, developing new products and launching them on the European/US markets, taking a leading position among canned fish producers in the region!      

    Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.

    Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn,Twitter @Nasdaq, or at

    Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:

    Ltd “Banga Ltd” 05.02.2024 signed an agreement No 17.1-1-L-2024/5 with the Investment and Development Agency of Latvia on receiving support for export assistance under the project “SME Innovative Business Development” co-financed by the European Regional Development Fund.