Several new well-known investors in the financial sector have joined the circle of investors of the pension manager IPAS Indexo (hereinafter – INDEXO) before the planned initial public offering (IPO), including: Aigars Kesenfelds, co-founder of various financial technology companies and IPAS INDEXO Supervisory Board Member Tīna Kukka, who has extensive experience in the financial sector, including at Swedbank and Luminor Bank.
All investors have purchased shares from existing INDEXO shareholders in direct transactions, ahead of the IPO process.
In all transactions, the sale value of the shares was EUR 14 per share, bringing the total value of INDEXO before the IPO to approximately EUR 42 million.
“The addition of new, well-known and successful investors in the business environment to our circle of shareholders before the IPO is an important confirmation of the company’s development and post-IPO intentions. It is important that these transactions also clearly confirm INDEXO’s current valuation of approximately EUR 42 million,” says Valdis Siksnis, Chairman of the Board and one of the founders of INDEXO.
All transactions were facilitated by Callidus Capital, a financial and investment advisory firm. At present, before the IPO, INDEXO has about 50 shareholders.
As previously reported, INDEXO plans to implement an IPO at the end of June, which aims to attract investment to establish a bank in addition to the existing pension savings management. During this year, INDEXO will apply for a commercial banking license and will gradually introduce banking services after receiving the license.
As a result of the IPO, INDEXO shares are planned to be listed on the Regulated Market on the official Baltic list of the Nasdaq Riga Stock Exchange. Detailed information on the planned share quotation will be reflected in the IPO prospectus, which will be submitted to the Financial and Capital Market Commission (FCMC) for approval in the near future. The prospectus will be published after approval by the FCMC.
INDEXO is the fastest growing pension manager in Latvia in terms of the number of clients, and almost 80,000 clients have already entrusted their pension savings to INDEXO, with the total amount of pensions under management reaching almost half a billion euros.
INDEXO was established in 2017 by more than 30 well-known Latvian entrepreneurs and managers, with the aim of introducing the latest approaches to asset management in the Latvian pension market. INDEXO’s values are innovation, transparency and openness, as well as strong business performance, which forms the basis for future growth.
Additional information available here: www.indexo.lv.
To obtain a license from a commercial bank (credit institution), the consent of the European Central Bank is required upon the proposal of the Financial and Capital Market Commission (FCMC).
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 here includes general forward-looking statements regarding the intention to conduct an initial public offering (IPO) of the shares of INDEXO. Each investment decision must be made on the basis of the prospectus approved by the Latvian Financial and Capital Market Commission (FCMC). The approved prospectus will be published on the INDEXO website (www.indexo.lv) as soon as it is made available.
