The pension management company IPAS “Indexo” (hereinafter - INDEXO), which has been working on a new bank project since the middle of last year, today, on December 6th, has received approval for the new share issue prospectus from the Bank of Latvia. This means that INDEXO can commence capital raising, which is the final step for obtaining a banking license and commencing bank operations. The price of one share will be 12 euros. The subscription period will take place from December 11th until December 29th of this year.

In the new share issuance by INDEXO, a total of up to 1,150,000 shares will be offered. There won't be a minimum limit for purchasing shares, meaning investors will be able to buy starting from one share at a value of 12 euros.

"With the capital raised last summer, we've practically concluded the licensing process, built the new bank's IT infrastructure, recruited management team and will be ready to start serving our first clients in the coming months. Capital raising is the final step before obtaining the banking license and commencing bank operations. This is a unique opportunity for everyone signing up for INDEXO shares, to become a shareholder in the new bank in highly profitable Latvian banking sector, at the same time you will help INDEXO to achieve significant positive changes in the Latvian banking market.” says Valdis Siksnis, Chairman of the Board at INDEXO and one of the founders.

The new bank is technically prepared to serve its first clients in the beginning of 2024

INDEXO has already submitted a banking license application to the Bank of Latvia, which is currently under review in cooperation with the European Central Bank. Throughout 2023 work has been completed on a secure and modern banking IT infrastructure. INDEXO Bank's mobile application has been developed with all necessary integrations for an impeccable customer experience. Additionally, fundamental products for individuals have been created, including current accounts, payments and cards, savings accounts and deposits, loans and, of course, convenient administration for third-pillar pensions. Upon receiving the license, INDEXO Bank will commence its operations serving individuals, while services for businesses will be developed in 2024.

Everyone is invited to join the free investor webinar “INDEXO Establishes a Bank” on December 14th at 11:00 AM (Riga time) via the Zoom platform, event will be held in Latvian. During the webinar, the INDEXO team will introduce the upcoming bank, financial forecasts and how to become a bank’s shareholder. You can reserve your spot for the webinar now by registering here: https://indexo.lv/vebinars/.

The approved prospectus is published on INDEXO's website (www.indexo.lv/investoriem) and attached to this announcement.

Disclaimer: Approval from the European Central Bank is required for obtaining a banking license.

The planned share issuances' issuer is the parent company of INDEXO Bank, IPAS “Indexo”, registration number 40203042988.
The information contained on this announcement constitutes an advertisement. The content of the announcement is of an informative nature and should not be considered as investment advice or an offer.
Potential investors should seek advice from experts if needed. Any investment decision should be made considering the prospectus approved by the Bank of Latvia. Approval of the prospectus should not be considered as a solicitation for the purchase of shares.

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 125 thousand customers and more than EUR 870 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 that provides modern, personalized services empowering Latvia’s people for their prosperity.

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