IPAS INDEXO, the parent company of the INDEXO financial services group, has successfully raised the planned €3.5 million in its new share offering, with investor demand exceeding supply by 64%. In total, investors were willing to invest €5.73 million. A total of 345,000 new INDEXO shares will be issued at a price of EUR 10.15 per share.
A total of 976 investors participated in the share offering, of which 606 purchased INDEXO shares for the first time. Following the offering, INDEXO’s total shareholder count will reach approximately 7 000.
“We are very pleased with the strong investor interest and would like to thank all investors. We see that our recent announcements — including the rapid development of the bank, the profitability of INDEXO’s pension management segment, the acquisition of VAIRO, and the planned voluntary share buyback offer for DelfinGroup — have resonated with Latvian investors who believe in our growth story. The new capital will enable us to implement our development plans and increase the company’s value for all our shareholders,” said Valdis Siksnis, Chairman of the Board of INDEXO Bank and one of its founders.
The capital raised in the INDEXO share offering will be used to finalize the acquisition of IPAS VAIRO and support further development of INDEXO Bank, including expanding mortgage lending activities.
INDEXO carried out the new share offering independently, without the involvement of investment banks, which allows the company to reduce capital raising costs and provide more value to its shareholders.
