INVL Technology, INVL Baltic Farmland and INVL Baltic Real Estate, companies split-off from Invalda LT, will be listed on NASDAQ OMX Vilnius stock exchange since 4 June.
On Tuesday the Bank of Lithuania confirmed that a set of publicly disclosed information, including a list of references and associated risk factors, regarding activities of INVL Technology, INVL Baltic Farmland and INVL Baltic Real Estate, is equivalent to information disclosed in prospectus.
“Boards of companies decided to seek admission of shares to the Secondary list of NASDAQ OMX Vilnius stock exchange since 4 of June. Before listing, it is planned to provide additional information about the companies that will allow investors to evaluate the shares” – Darius Sulnis, the director of INVL Technology, INVL Baltic Farmland and INVL Baltic Real Estate, said.
According to him, INVL Technology, INVL Baltic Farmland and INVL Baltic Real Estate will later apply for closed-end investment company licenses, thus becoming similar to funds. The management of companies will be transferred to Invalda LT Investments, established by Invalda LT, which seeks management company license.
INVL Technology manages 80 percent of BAIP Group shares. As it has been announced previously, unaudited BAIP group income increased by 25 percent in 2013 to LTL 50.7 million (EUR 14.7 million), EBITDA (earnings before interest, taxes, depreciation and amortization) – by 63 percent to LTL 4.4 million (EUR 1.3 million).
17 companies, investing into farmland and loans granted to them were transferred to INVL Baltic Farmland. The companies jointly manage more than 3 thousand hectares of agricultural land, at the present, and their consolidated shareholders’ equity amounted to LTL 34.3 million (EUR 9.9 million) at the end of 2013.
INVL Baltic Real Estate has intercepted shares of Invalda LT real estate companies’ Invaldos Nekilnojamojo Turto Fondas and Rovelija, loans and real estate logistics project-related assets in Latvia. Consolidated INVL Baltic Real Estate equity, calculated at the end of 2013, would amount to LTL 44.2 million (EUR 12.8 million) and assets – LTL 150.6 million (EUR 43.6 million).
The person authorized to provide additional information:
Darius Sulnis
President
Phone +370 5 279 0601
Email: [email protected]