On December 11th, the subscription for the new shares of IPAS "Indexo" (hereinafter - INDEXO) commences. The price for one share is 12 euros. The subscription period lasts until December 29th, 3:30 PM. In the new share issue, INDEXO plans to attract 12.5 million euros, which is necessary for obtaining a banking license and commencing bank operations.

The share issue by INDEXO is carried out in accordance with the approved prospectus, which can be reviewed on INDEXO's website: www.indexo.lv/investoriem. In the new share issuance by INDEXO, a total of up to 1,150,000 shares will be offered. There won't be a minimum limit for purchasing shares, meaning investors will be able to buy starting from one share at a value of 12 euros.

"Subscription for the new INDEXO shares is not only a unique opportunity to become a shareholder in a highly profitable banking sector but also actively participate in promoting positive changes in Latvia's financial industry. Just last year, our claims about insufficient bank competition were met with some scepticism. Currently, this problem is widely recognized. The situation in the banking sector resembles what it was in pension management 7 years ago. Thanks to a large customer base and the well-known brand INDEXO, this presents a clear business opportunity to establish a modern, customer-centric local bank, where all strategic decisions and product development priorities will be tailored specifically to the needs of Latvian clients. We invite everyone to participate in INDEXO's new share issue so that this bank can start serving customers shortly after receiving the banking license," says Valdis Siksnis, Chairman of the Board at INDEXO and one of the founders.

As previously reported, since mid-2023, INDEXO has been developing a project to establish a new bank, and the ongoing capital attraction is the final stage before obtaining a banking license and commencing operations.

INDEXO has already submitted a banking license application to the Bank of Latvia, which is currently under review in cooperation with the European Central Bank. Throughout 2023 work has been completed on a secure and modern banking IT infrastructure. INDEXO Bank's mobile application has been developed with all necessary integrations for an impeccable customer experience. Additionally, fundamental products for individuals have been created, including current accounts, payments and cards, savings accounts and deposits, loans and, of course, convenient administration for third-pillar pensions. Upon receiving the license, INDEXO Bank will commence its operations serving individuals, while services for businesses will be developed in 2024.

Everyone is invited to join the free investor webinar “INDEXO Establishes a Bank” on December 14th at 11:00 AM (Riga time) via the Zoom platform, event will be held in Latvian. During the webinar, the INDEXO team will introduce the upcoming bank, financial forecasts and how to become a bank’s shareholder. You can reserve your spot for the webinar now by registering here: https://indexo.lv/vebinars/.

Disclaimer: Approval from the European Central Bank is required for obtaining a banking license.

The planned share issuances' issuer is the parent company of INDEXO Bank, IPAS “Indexo”, registration number 40203042988. The information contained on this announcement constitutes an advertisement. The content of the announcement is of an informative nature and should not be considered as investment advice or an offer. Potential investors should seek advice from experts if needed. Any investment decision should be made considering the prospectus approved by the Bank of Latvia. The approved prospectus is published on INDEXO's website (www.indexo.lv/investoriem). Approval of the prospectus should not be considered as a solicitation for the purchase of shares.

About INDEXO

INDEXO is an asset management company licensed by the Bank of Latvia, which offers modern 2nd and 3rd pillar pension saving plans in Latvia. INDEXO is the fastest growing pension management company in the Baltics with more than 125 thousand customers and more than EUR 890 million in assets under management. 

INDEXO was established in 2017 by a group of 30 experienced business representatives and managers with an aim to fight for a better financial environment in Latvia. INDEXO vision is to become a financial services group that provides modern, personalized services empowering Latvia’s people for their prosperity.

Additional information is available at www.indexo.lv.   

Contact information:
Ieva Bauma
IPAS "Indexo"
Board Member, Marketing Manager
Email: ieva.bauma@indexo.lv
Phone: +371 28636789