The Competition Council has adopted a decision to allow the merger whereby IPAS Indexo acquires decisive influence over AS DelfinGroup. IPAS Indexo, which is the parent company of the Indexo financial services group, is currently preparing to make a voluntary share buyback offer to AS DelfinGroup shareholders with the aim of obtaining a majority in the company’s capital.
In addition to the approval of the Competition Council, the making of the offer still requires the consent of Indexo shareholders and the approval of the offer prospectus by the Bank of Latvia.
It is planned that, within the framework of the transaction, DelfinGroup shareholders will be offered to exchange each AS DelfinGroup share they own for 0.136986 Indexo shares. As a second option, DelfinGroup shareholders will be offered to sell their DelfinGroup shares at a price of EUR 1.30 per 1 share. There is also a third option – to keep their existing DelfinGroup shares and continue to participate in the development of DelfinGroup.
The largest DelfinGroup shareholders have expressed support for the share exchange and for the transaction as a whole.
Indexo is a financial services group that brings together pension management companies and Indexo Bank.
Indexo, an investment management company licensed by the Bank of Latvia, offers 2nd and 3rd pillar pension plans. It is one of the fastest-growing pension managers in the Baltics, with almost 145 thousand clients and more than EUR 1.4 billion under management.
Indexo Bank, a credit institution licensed by the European Central Bank, currently serves more than 41 thousand clients, with total deposits of EUR 51.8 million and a loan portfolio of EUR 22.2 million.
Founded and based in Latvia, Indexo is a company listed on the Nasdaq Riga stock exchange with approximately 7,000 shareholders.
The Indexo Group’s losses last year related to investments in establishing Indexo Bank amounted to EUR 5.382 million, which is 85.7% more than in 2023.
The largest Indexo shareholders are Perfect Match, owned by Henrik Karmo, with 8.93%; VSCAP, owned by Valdis Siksnis, with 6.69%; the Estonian company Barolo Finants, whose owner is Indrek Gusev, with 5.64%; the Estonian company Saggis, whose owner is Sandu Huban, with 4.99%; IN Finance, whose controlling person is Jekaterina Ņikuļina, with 4.99%; as well as Mārcis Martinsons with 4.98% of Indexo shares.
The DelfinGroup Group’s revenues in 2024 amounted to EUR 63 million, which is 25% more than in 2023, while the Group’s profit increased by 12% and reached EUR 7.4 million.
DelfinGroup shareholders are Alppes Capital (18.35%), owned by Aigars Kesenfelds; EC Finance (18.81%) and AE Consulting (8.9%), both owned by Agris Evertovskis; Curiosity Capital (4.86%) and LK Investments (4.9%), owned by Linda Kesenfelde. The Kesenfelds family’s L24 Finance owns a further 0.26% of DelfinGroup shares.
Originally published at https://inc-baltics.com/indexo-un-delfingroup-drikst-apvienoties-ieguveji-bus-abi/
Like
Love
Happy
Haha
Sad
