On 21 June, the Financial and Capital Market Commission (hereinafter - FCMC)
approved initial public offering (IPO) Prospectus of pension management company
IPAS Indexo (hereinafter - INDEXO), which means that INDEXO may commence its
IPO. INDEXO hereby announces that the price of one share will be EUR 14, and
subscribing for the shares will continue from 10 a.m. on 28 June until 12:00 on
11 July.
INDEXO will issue a total of 535,000 shares worth 7.49 million euros. The share
price has been determined in accordance with INDEXO valuation. There will be no
minimum share purchase limit, that is, investors will be able to acquire shares
starting from one share at EUR 14.
"With the help of the IPO, we wish to create the first bank in Latvia that will
belong to a wide range of residents. So far, no bank in Latvia has been
established this way, and our goal is to ensure that operations of the new
INDEXO bank reflect the interests of Latvian society and the economy. The more
residents and entrepreneurs are involved in the development of INDEXO, the
better the priorities of the future INDEXO bank will be aligned with Latvia's
growth priorities. After the IPO closes, our next task will be to continue work
on obtaining the banking licence," says Valdis Siksnis, one of the founders of
INDEXO and Chairman of the company's board.
According to INDEXO IPO prospectus, the IPO will officially close at 15:30 on
11 July. Given that the time of accepting subscription applications may vary
depending on the investor's bank, INDEXO advises investors to submit their
subscription applications by 12:00 on 11 July.
INDEXO IPO Retail Offering will take place in Latvia and Estonia, giving the
opportunity to subscribe for INDEXO shares to any interested party that has a
securities account with a financial institution that is a member of the Nasdaq
Riga stock exchange, as provided in the IPO Prospectus. To subscribe for the
shares, an investor must read the IPO prospectus and issue a subscription
instruction to the bank with which he or she has a securities account.
In case of oversubscription, the shares will be allocated in accordance with
the allocation principles described in the prospectus, giving preference to
INDEXO 3rd pension pillar customers (within Retail Offering) and the existing
shareholders (within Shareholder Offering).
INDEXO plans to attract investment in order to set up a bank in addition to its
existing pension management business. INDEXO will apply for a commercial
banking licence later this year in accordance with the applicable laws and
regulations and, once the licence is received, will gradually roll out its
banking services.
Following the IPO, INDEXO shares will be listed on the official Baltic List of
the Nasdaq Riga stock exchange. Learn more about the IPO during the Zoom call
"INDEXO GOES PUBLIC", which will be held on June 29, at 11:00.
Thanks to the support of more than 80,000 clients, INDEXO is the fastest
growing pension manager in Latvia with approximately EUR 500 million under
management.
INDEXO was established in 2017 by a group of 30 experienced business people
with an aim to bring the latest approaches in asset management to the Latvian
pension market. INDEXO is built on the values of innovation, transparency,
integrity, and strong business fundamentals.
More information is available here: www.indexo.lv.
Bank (credit institution) licence is subject to authorization granted by
European Central Bank based on Financial and Capital Market Commission's (FCMC)
proposal.
Disclaimer: This announcement is an unpaid marketing communication in
accordance with the Prospectus Regulation and does not constitute investment
advice or an offer. The information provided herein contains general
forward-looking statements on the intended IPO of INDEXO. Every investment
decision must be based on a prospectus approved by the Latvian Financial and
Capital Market Commission. An approved prospectus will be published on INDEXO
website (www.indexo.lv) once available.
Additional information:
Ieva Margevica?
Marketing Manager
IPAS INDEXO?
M: + 371 28?636 789?
E: ieva.margevica@indexo.lv?
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=1075622© 2022 GlobeNewswire
