Pension management company IPAS Indexo (hereinafter – INDEXO) today submitted its initial public offering (IPO) prospectus to the Financial and Capital Market Commission (hereinafter – FCMC). Once the FCMC reviews the prospectus and in case of approval, the date of the IPO launch will be announced, as well as the share subscription time, the share price and other details.
The prospectus is the basic document of the INDEXO IPO, which provides information on the number and price of IPO shares, as well as other financial specifications and share allocation principles. The document also describes in detail the company’s future development plans and growth objectives, including plans to establish a new bank and the financial rationale thereof. Furthermore, the prospectus presents the INDEXO governance model, risk policy and other main aspects of the company’s operations.
“Submission of the prospectus to the FCMC is an important step in the IPO process, which brings us closer to practical preparations for the initial public offering and listing of our company. The prospectus will be published after the FCMC’s approval so that investors could get acquainted with our performance indicators and growth plans in detail. We are currently well on track and hope to commence the IPO in the coming weeks,” says Valdis Siksnis, one of the founders of INDEXO and Chairman of the company’s Board.
As reported, INDEXO plans to launch the IPO at the end of June this year, aimed at attracting investment in order to set up a bank in addition to its existing pension management business. INDEXO will apply for a commercial banking licence later this year and, once the licence is received, will gradually roll out its banking services.
Following the IPO, INDEXO shares will be listed on the official Baltic List of the Nasdaq Riga stock exchange.
Thanks to the support of more than 8,000 clients, INDEXO is the fastest growing pension manager in Latvia with approximately EUR 500 million under management.
INDEXO was established in 2017 by a group of 30 experienced business people with an aim to bring the latest approaches in asset management to the Latvian pension market. INDEXO is built on the values of innovation, transparency, integrity, and strong business fundamentals.
More information is available here: www.indexo.lv.
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 (www.indexo.lv) once available.
