Invalda INVL, the leading Baltic asset management group, will seek to buy back its own shares, using EUR 1 million from its accumulated reserves. The maximum purchase price will be EUR 14.83 per share, however, the buy-back will be carried out through Dutch auction tender, which may result in a lower price in the event of a higher supply.
According to the decision of the Management Board of Invalda INVL, the buy-back of own shares will take place on 2-6 September 2024, following the publication of the company’s interim results for the first half of this year. The maximum number of Invalda INVL shares to be acquired is 67,430 units (or 0.55% of the share capital) and the maximum acquisition price is the value of the consolidated equity per share at the end of 2023. In the event of an oversubscription, 67,430 shares offered at the lowest price will be purchased according to the Dutch auction principle, with all sellers receiving the same price as determined by the stock exchange algorithm.
Before the announcement of the buy-back, the price of Invalda INVL’s shares on the stock exchange was EUR 14.00.
“The purpose of the share buy-back is to reduce the share capital of Invalda INVL by cancelling the shares acquired by the company and to meet the obligations related with employee stock options. It is also an additional opportunity for investors wishing to realise all or part of their shares”, says Darius Šulnis, CEO of Invalda INVL.
The shareholders of Invalda INVL made the decision to buy back its own shares at a meeting held on 30 April of this year. Currently, the company has accumulated a reserve of EUR 9.888 million euros for the purchase of its own shares.
About Invalda INVL
Invalda INVL is the leading Baltic asset management group with a track record spanning over 30 years. Growing and developing with an open approach, it creates well-being for people through its work. The group’s companies manage EUR 1 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. The group’s scope of activities also includes family office services in Lithuania and Latvia, management of pension funds in Latvia, and investments in global third-party funds.
The shares of Invalda INVL have been traded on the Nasdaq Vilnius stock exchange since 1995. Further information is available here: https://www.invaldainvl.com/en/ .