The Bank of Lithuania has granted approval for IPAS INDEXO to acquire an indirect shareholding exceeding 20% in DelfinGroup LT UAB, a Lithuanian subsidiary of AS DelfinGroup. IPAS INDEXO, the parent company of the INDEXO financial services group, is currently preparing to launch a voluntary share buyback offer to AS DelfinGroup shareholders, with the goal of obtaining a majority stake in the company. To complete the transaction and support further development of the bank, INDEXO plans to raise new capital.
In the near future, INDEXO will submit an application to the Bank of Latvia, requesting permission to make the voluntary share buyback offer, which is the final regulatory approval needed for the DelfinGroup transaction.
Alongside the voluntary share buyback offer to DelfinGroup shareholders, IPAS INDEXO plans to initiate a public capital raise. The subscription period for the new shares will be announced shortly after the share issuance prospectus is approved by the Bank of Latvia.
“The voluntary share buyback offer to DelfinGroup shareholders and the planned consolidation of both companies is a complex process, as both groups operate in strictly regulated financial markets across multiple countries and are listed on the stock exchange. Now, with the approval from the Bank of Lithuania, we can confidently say that the transaction is entering its final stage,” said Henrik Karmo, Chairman of the Management Board of IPAS INDEXO and one of the company’s founders.
As part of the transaction, DelfinGroup shareholders will be offered the option to exchange each AS DelfinGroup share they own for 0.136986 INDEXO shares. Alternatively, shareholders may choose to sell their DelfinGroup shares at a price of EUR 1.30 per share. A third option is to retain their existing DelfinGroup shares and continue participating in the company’s development.
The largest shareholders of DelfinGroup have already expressed their support for the share exchange and the overall transaction, reinforcing confidence that the set goal will be achieved.
