The pension management company IPAS INDEXO (hereinafter - INDEXO), which has been working on a new bank project since the middle of last year, received strong support from its shareholders at an extraordinary general meeting yesterday. The shareholders endorsed the capital raising for the operations of the new bank up to 17.25 million euros by issuing up to 1,150,000 new shares at a price per share ranging from 11 euros to 15 euros. Additionally, INDEXO shareholders instructed the company's board to determine the selling price of one newly issued dematerialized share within the mentioned price range.

"We consider the capital raising to be the final significant step before obtaining the banking license, and the decision of the shareholders is the first step to realizing it. We are grateful for the convincing support of the shareholders in implementing this initiative. The INDEXO management board will separately decide on the commencement of subscriptions for the mentioned new shares. We will announce the start of subscriptions after the approval of the prospectus for this secondary issue, and we plan to submit the prospectus to the Bank of Latvia for consideration in the coming days so that the supervisory authority can review and approve it by the beginning of December," said Valdis Siksnis, Chairman of the Board of INDEXO and one of the founders.

In addition, INDEXO shareholders decided to cancel the pre-emptive rights of the company's shareholders for the new issuance of shares. Other decisions were also made regarding the registration of the new shares in the central securities depository and their inclusion and commencement of trading on the regulated market of “Nasdaq Riga” Baltic Regulated market Baltic Official List.

Resolutions of the extraordinary meeting of shareholders of INDEXO of November 23 have been published on the INDEXO website: https://indexo.lv/en/for-investors/announcements/

Disclaimer: Approval from the European Central Bank is required for obtaining a banking license. New share issue is subject to approval of the issue prospectus by the Bank of Latvia.


About INDEXO

INDEXO is an asset management company licensed by the Bank of Latvia, which offers modern 2nd and 3rd pillar pension saving plans in Latvia. INDEXO is the fastest growing pension management company in the Baltics with more than 124 thousand customers and more than EUR 850 million in assets under management. 

INDEXO was established in 2017 by a group of 30 experienced business representatives and managers with an aim to fight for a better financial environment in Latvia. INDEXO vision is to become a financial services group, offering modern and customized services that empower Latvian people to take care of their financial wellbeing.   

Additional information is available at www.indexo.lv.   

         Contact information:
         Ieva Bauma
         IPAS "Indexo"
         Board Member, Marketing Manager
         Email: ieva.bauma@indexo.lv
         Phone: +371 28636789