Nasdaq announces that the shares of INDEXO (ticker: IDX1R), a Latvian pension management company, have been listed on the Nasdaq Baltic Main List by Nasdaq Riga as of today, July 15.

The listing of INDEXO shares follows its initial public offering (IPO), raising EUR 7.49 million. The demand for shares reached a value of EUR 9.9 million and the offering was thus oversubscribed by EUR 2.5 million. In total, 3 562 investors participated in the offering.

“We congratulate INDEXO on its successful IPO and look forward to supporting it on its growth journey. INDEXO has ambitious goals which, as IPO results show, are supported by investors who have now become co-owners of the company. We wish INDEXO success as its journey as a public company begins,” said Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga and Head of the Nasdaq Baltic Market.

“The objective of the INDEXO IPO was to raise capital for the creation of a new bank and the significant demand for the IPO shares from several thousands of people is a confirmation of support for our idea. The fundamental idea of INDEXO future bank is the creation of circulation of financial value with Latvia at its center, that is, we are building a financial institution, which is funded by local investors and this capital is then put to use to grow the local economy, creating a new value for businesses, society and INDEXO shareholders. Public listing is a critical component of this circulation of value in order to ensure liquidity for the shareholders and convey the message of transparent, modern governance,” said Valdis Siksnis, one of the founders of INDEXO and Chairman of the board.