Invalda AB planned 30 mLTL public issue of convertible bonds with annual interest rate of 9.9% is nullified, because distributed part is less than 700 000 LTL of nominal value. All paid amounts today will be transferred back to shareholders who concluded bonds subscription agreements.
Convertible bonds of 25 m and 50 mLTL issued last December were acquired by persons related with the main shareholders. By offering the latest public issue the company seeked to establish equal opportunities for the minor shareholders in acquiring bonds.
“Invalda has already implemented bigger part of actions which were required to maintain stability in the group’s activity – the latest bond issue was not one of these measures but only realizing equality principle between all shareholders. In the prospectus it was stated that only company’s shareholders had the right to acquire the bonds, so the result of the subscription was not unexpected”, – Darius Sulnis, the president of Invalda, says.
About the Invalda financial group
The Invalda financial group focuses on asset management as well as private and investment banking. The asset management activity currently concentrates on finance, real estate, pharmacy, furniture manufacturing and roads and bridges construction. Activities of Invalda mostly cover Central and Eastern European countries. The main goal of Invalda financial group is successful development of activity with orientation to long-term stable growth and ensurance of high financial return to the shareholders.