The pension management company IPAS “Indexo” (hereinafter – INDEXO), which established INDEXO Bank in Latvia last year, plans to start raising new capital in the near future to promote further development of the bank, including the initiation of mortgage lending. INDEXO plans to raise up to 4 million euros by issuing new company shares, which can be subscribed to by any Latvian resident and company.
The subscription period for shares will be announced shortly after the approval of the Prospectus by the Bank of Latvia, which is expected in the coming days.
“With the help of previously raised capital, we have opened a new bank in Latvia and successfully attracted more than 32,000 bank clients within a few months. New capital is needed for further development of the bank, including the issuance of mortgage loans and achieving the planned break-even point at the group level (before provisions for credit losses) this year. This will be a unique opportunity for everyone to become a shareholder of a local bank in the highly profitable Latvian banking sector by subscribing to INDEXO shares, while helping INDEXO make significant positive changes in the Latvian banking market, which will also affect each of us,” says Valdis Siksnis, Chairman of the Management Board of INDEXO Bank.
All interested parties are invited to join the free online webinar “Why and How to Become a Co-owner of INDEXO?” on April 16 at 11:00, held in Latvian.
In the webinar, the INDEXO team will introduce INDEXO’s further plans, financial forecasts, and how to become a shareholder of the company. Registration for the webinar is here: https://indexo.lv/vebinars-indexo-akcionars/
