Upon completion of the mandatory share buyback offer, IPAS INDEXO will acquire an additional 1,862,021 AS DelfinGroup shares, which is 4.09% of the total voting share capital of DelfinGroup. As a result of the share purchase, INDEXO will acquire 1,765,588 DelfinGroup shares, or 3.88% of the company’s capital, while as a result of the share swap INDEXO will acquire a further 96,433 DelfinGroup shares, or 0.21% of the company’s capital.
The mandatory share buyback offer was made following the voluntary share buyback offer, as a result of which this January INDEXO already acquired 67.42% of the total voting share capital of DelfinGroup.
The completion of the mandatory share buyback offer concludes a unique transaction in the Latvian capital market, in which one listed company takes over another by carrying out a share swap or purchase involving several thousand shareholders.
INDEXO made the mandatory share buyback offer because the law stipulates that such an offer must be made when a 30% holding in a company’s capital is exceeded. Under the mandatory share buyback offer, DelfinGroup shareholders were offered to sell their DelfinGroup shares at a price of EUR 1.30 per share or to exchange DelfinGroup shares for newly issued INDEXO shares, receiving one INDEXO share for every 7.3 DelfinGroup shares.
“The successful completion of the DelfinGroup transaction, in which a convincing majority of DelfinGroup shareholders chose to convert their shares, marks the beginning of a new stage in INDEXO’s development. This is, in itself, a special transaction in the Latvian capital market, resulting in the creation of a company with a market capitalization of around one hundred million euros. However, the positive results of this transaction will be even more significant. Namely, with DelfinGroup joining the INDEXO group, we will work intensively to implement various synergy opportunities between the two companies and will develop INDEXO into a leading local financial services group that will provide Latvian residents with convenient and cost-effective services,” says Henrik Karmo, Chairman of the Management Board of IPAS INDEXO and one of INDEXO’s co-founders.
With the completion of this transaction, the INDEXO group becomes profitable on a consolidated basis and will finance the further growth of INDEXO Bank. As previously planned, DelfinGroup will remain a listed company and will continue dividend payments.
The planned settlement date for the mandatory share buyback offer is 26 January 2026.
Originally published at https://inc-baltics.com/7125-delfingroup-nu-pieder-indexo/
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