ABLV Bank increases its equity by EUR 27 million

Riga, Latvia, May 28, 2014, 15:00 / Banking

Another issue of ABLV Bank shares that lasted from 7th of April till 16th of May was completed successfully. Within this issue 2 243 062 ordinary registered voting shares were issued. After the issue, the bank’s share capital is composed of 29 385 000 ordinary voting shares and 3 015 770 employee shares without voting rights. The newly issued shares constitute 7.6% of the bank's voting share capital.

The issue of shares was performed in a form of non-public offering to a limited group of participants. The overall paid amount of applications equalled EUR 34.6 million, exceeding the offer amount by EUR 7.6 million, and therefore some of the applications have been fulfilled partly. The sale price of one newly issued share equalled EUR 12.05, and 66 current shareholders of the bank participated in this issue.

The subscription results once again evidenced that we have many loyal shareholders willing to personally participate in the bank’s development.

After completion of the issue, the bank’s major shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86.23% of the bank's voting share capital.

ABLV Bank, AS, is the largest independent private bank in Latvia. 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, Vladivostok, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, Tashkent, and Limassol.

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