INDEXO shareholders approve IPO plans, appoint a new Supervisory Board

INDEXO shareholders approve IPO plans, appoint a new Supervisory Board
INDEXO Komanda

Shareholders of joint-stock investment management company Indexo (hereinafter – INDEXO) at an extraordinary shareholders’ meeting today unanimously supported a package of decisions necessary for the initial public offering (IPO) of INDEXO shares, which is planned for the end of the second quarter of this year. The company’s shareholders also elected a new Supervisory Board and approved the Audit Committee.

The new INDEXO Supervisory Board, which has been appointed to oversee and support the implementation of the IPO and creation of a new bank, will include existing members Valdis Vancovičs, Toms Kreicbergs, Renāts Lokomets and Svens Dinsdorfs, as well as a new member, Tīna Kukka. All members of the Supervisory Board have vast managerial experience acquired in leading companies across various sectors, and Tīna Kukka will add to the Supervisory Board her expertise in commercial bank management – she has been a long-standing board member of JSC Swedbank and head of the change management office at JSC Luminor Bank.

INDEXO Audit Committee will include S. Dinsdorfs, R. Lokomets and independent committee member Ieva Jāgere.

INDEXO shareholders today endorsed a package of essential decisions, covering the approval of IPO plans, adoption of necessary amendments to the company’s statutes and the new version the statutes, election of the new Supervisory Board and the Audit Committee, approving the Dividend Policy and a capital increase, as well as waiving shareholders’ preemption rights and a number of other decisions necessary for the IPO.

“The decisions taken today by the shareholders is an important step that will enable our transition to the next stage of preparations for the IPO process in which our key tasks will include agreeing the IPO prospectus with market regulators and starting to actively approach investors. The new supervisory board and audit committee, meanwhile, are critically important management elements that will ensure a successful attainment of our business goals and supervision of investors’ interests. I would also like to thank Edgars Zālītis and Aleksejs Prokofjevs for their significant input in INDEXO’s growth so far,” says Valdis Siksnis, Chairman of the Board and a co-founder of INDEXO.

“The war in Ukraine can affect the exact date of the IPO, but for the time being we are successfully moving forward according to the original plan to launch the IPO at the end of the second quarter,” V. Siksnis adds.

INDEXO intends to use the IPO to attract investment necessary to set up a bank in addition to its existing pension management business. INDEXO will apply for a commercial banking license later this year and hopes to obtain the license by the end of the year with a view to phasing in banking services shortly thereafter.

As reported, following the IPO, it is planned that INDEXO shares will be listed on the official Baltic List of the Nasdaq Riga stock exchange. Further information on the IPO will be provided in the IPO prospectus, which will be submitted to the Financial and Capital Market Commission (FCMC) in the coming months.

More information is available here:

Bank (credit institution) license is subject to authorization granted by European Central Bank based on Financial and Capital Market Commission’s 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 ( once available.


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