State-Owned Companies and the Stock Exchange - Untapped Potential

BDO Latvia Partner Raivis Jānis Jaunkalns shares his insights with Investoru Klubs on the development of Latvia’s capital market and the important role that state-owned enterprises could play in driving its growth.

“We have ambitious private companies that are growing and raising funds both through banks and the public markets. It’s great to see that. The biggest question is – what about state-owned companies?” notes Raivis Jānis Jaunkalns.

In the article, Raivis analyzes why Latvia’s capital market still lags behind neighboring countries, what key barriers exist to listing state-owned companies, and how such a move could transform investor confidence and overall market activity.

He also discusses local experience with IPOs and bond issuances in the Baltics, as well as the challenges Latvian companies face when raising capital internationally.
Raivis emphasizes that listing state-owned enterprises would be a powerful step toward greater transparency, trust, and long-term economic growth:

“We just need one or two success stories – then others would follow.”

How could this process reshape Latvia’s capital market, and are we ready for it?
Read the full interview on Investoru Klubs:

Full article: “Biržā gribētos redzēt valsts uzņēmumus” – Investoru Klubs