On August 23, 2024, the board of IPAS Indexo (hereinafter – INDEXO) decided to raise additional capital through a closed share issue, approving the terms for increasing INDEXO’s share capital. According to the terms, INDEXO plans to issue 171 070 new shares at a purchase price of 13.5 euros per share, with a nominal value of 1 euro per share and a premium of 12.5 euros per share. Thus, INDEXO plans to raise an additional 2 309 445 euros in capital. After the capital increase, the new share capital of INDEXO will be 4 760 549 euros.

In January of this year, in preparation for obtaining a banking license, INDEXO already conducted a share issue and successfully raised 9 million euros. However, the required amount for obtaining the banking license was 12.5 million euros, and for the missing amount, commitment letters were signed with several investors who committed to contribute the missing amount to INDEXO’s capital if necessary. Later, on March 25, the necessary approval from the shareholders’ meeting for organizing such an issue was also received.

In July and August of this year, several investors offered to invest 2 million euros in INDEXO’s capital under significantly more favorable conditions than in the commitment letters and slightly above the market price at that time. The INDEXO board and management decided to take advantage of this opportunity, which will strengthen the bank’s rapid development. The issue will be subscribed, and all formalities will be completed in the coming weeks. When the shares will be issued, the outstanding amount committed under the commitment letters will be reduced by the amount of capital raised.

About INDEXO

INDEXO is a financial services group that includes pension management companies and INDEXO Bank. 

INDEXO, an investment management company licensed by the Bank of Latvia, offers modern 2nd and 3rd pillar pension plans in Latvia and is one of the fastest-growing pension managers in the Baltics, with over 136 thousand customers and more than 1.17 billion euros under management. Meanwhile, INDEXO Bank is a credit institution licensed by the European Central Bank, which will provide a full range of convenient and advantageous banking services to Latvian residents and, within the next 6-9 months, also to Latvian companies. 

INDEXO is founded and based in Latvia and is listed on the Nasdaq Riga stock exchange with nearly 6,000 shareholders. INDEXO fights for a better financial environment in Latvia, and the group’s goal is to strengthen the well-being of Latvian residents by providing modern, personalized services. Additional information is available at www.indexo.lv.

Contact information:
Ieva Bauma
INDEXO Head of Marketing and Communications
E: ieva.bauma@indexo.lv
P: +371 28 636 789