Promotion of listing of securities on the stock exchange

What are the benefits?

The objective of the measure is to promote the development of capital markets in Lithuania and thus help micro, small or medium-sized enterprises to attract the necessary financing for development, to compensate them for part of the costs of issuing shares and/or bonds in order to include these securities in the securities market regulated by the regulated market operator AB Nasdaq Vilnius and the alternative securities market First North (hereinafter – the Stock Exchange).

Who is eligible?

Micro, small or medium-sized enterprises (SMEs) whose shares and bonds are not listed on the Stock Exchange before 21 July 2021.

How does it work?

In order to use the instrument, the company must submit an application to INVEGA at The application must be completed in Lithuanian. Electronic documents sent must be signed with a qualified electronic signature. The application must be accompanied by the following documents:

  •  small or medium business entity status declaration form F1;
  • “One company’s” declaration;
  • at the choice of the applicant, a set of interim financial statements for the last preceding quarter or the last day of the month preceding the submission of the application;
  • a declaration that the entities subject to international sanctions do not participate in the activities, actions or transactions performed by the applicant;
  • a joint venture certificate issued by the State Enterprise Centre of Registers regarding the holder of the applicant’s shares or participants holding at least 25% of shares and/or voting rights, and/or whether in the past 5 years the managers have been convicted by final judgement or has unexpunged convictions.

If the established conditions have been met, no later than within 30 calendar days from the listing of shares and/or bonds on the Stock Exchange, the applicant must submit a request to INVEGA for the payment of subsidies to The request must be accompanied by the following documents:

  • when bonds issued by the Applicant are listed on the Stock Exchange – copies of documents substantiating the eligible costs incurred by the Applicant;
  • when the shares issued by the Applicant are listed on the Stock Exchange – the Applicant’s declaration confirming that the Applicant has attracted at least EUR 500,000 (five hundred thousand euros) in the form of equity capital in connection with the Eligible Listing, which is paid in cash or in kind prior to the submission of the request. In addition, the relevant documents confirming the raising of funds (share subscription agreement, deed of contribution of assets, other documents confirming the raising of funds) and copies of the documents substantiating the eligible costs incurred by the Applicant.


  • The applications shall be evaluated in order of date and time of receipt at INVEGA, however no longer than 20 business days. The term for evaluation of the application shall be calculated from the date of receipt of the application and all documents required for the evaluation and duly completed at INVEGA.
  • The request for payment of subsidy and the eligibility of the costs incurred shall be assessed within no more than 30 business days.
  • The subsidy shall be paid to the Applicant within 20 business days from the date of INVEGA’s decision to award the subsidy.
  • Applications are accepted until all funds of the instrument are distributed or until the call for tenders is suspended.