ABLV Bank increases its equity by LVL 11.5 million

Riga, Latvia, April 26, 2013, 10:50 / Banking

Another issue of ABLV Bank shares has been completed successfully, under which 6 570 ordinary registered voting shares were issued. After the issue, the bank’s share capital is composed of 127 170 ordinary voting shares and 13 400 employee shares without voting rights; the newly issued shares constitute 5.2% of the bank's voting share capital.

The issue of shares was performed in the form of non-public offering to a limited group of persons. The overall paid amount of applications exceeded the offer amount by LVL 1.2 million, and therefore some of the applications have been fulfilled partly. The sale price of one newly issued share equalled LVL 1 755, and 38 current shareholders of the bank participated in the issue.

After the issue was completed, the direct and indirect interest in the bank’s capital held by major shareholders – Oļegs Fiļs, Ernests Bernis and Nika Berne – remained unchanged in percentage terms.

“Compared to the share issue performed in 2010, the price of one share of the bank increased 2.7 times. This clearly evidences financial return ensured by the shareholders’ contribution to the bank’s capital. As a result of the share issue, we now have required funds for further development of the bank,” said Ernests Bernis, ABLV Bank Chief Executive Officer (CEO).

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s majority shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86% of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296
ilmars.jargans@ablv.com