Following the completion of a retail businesses merger, Invalda INVL, the leading Baltic asset management group, has acquired 9.39% of the shares of Šiaulių Bankas and increased its equity stake to 18.45%, thus becoming the bank’s largest shareholder.
The newly issued Šiaulių Bankas shares passed to Invalda INVL’s ownership after the bank increased its authorised capital and transferred them to Invalda INVL. The shares are listed on the Nasdaq Vilnius regulated market.
“We are investing in Šiaulių Bankas because we believe that it will continue to earn a significant profit, develop rapidly and steadily grow to become the best bank for its clients, team members and investors,” says Darius Šulnis, the CEO of Invalda INVL.
In 2024, by completing other planned share-acquisition transactions that have been announced, Invalda INVL intends to increase its holding of Šiaulių Bankas shares, but not to more than 20%.
Invalda INVL and Šiaulių Bankas signed a master agreement on the merger of Invalda INVL’s indirectly owned retail client asset management and life insurance businesses with the Šiaulių Bankas Group on 22 November 2022. The retail businesses were merged on 1 December this year, but to finalise the EUR 41.8 million transaction, Šiaulių Bankas needed to issue a targeted share issue which Invalda INVL purchased at the price of EUR 0.645 per share.
The Invalda INVL group continues to manage alternative investment funds and other investments and provide family office services.
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 more than 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, 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: https://www.invaldainvl.com/en/