Energy, Energy Market, Financial Services, Lithuania

The prices are set in the tender offer circular approved by the Bank of Lithuania's Supervision Service, which supervises financial market participants, on March 30, Ignitis Grupe said on Tuesday. 

Shares of ESO and Ignitis Gamyba closed at 0.908 and 0.66 euros, respectively, on the Nasdaq Vilnius Stock Exchange Monday.  

This follows the signing on March 17 of an amicable agreement between Ignitis Grupe and the Investors' Association which represents the two subsidiary companies' minority shareholders.  

Shareholders will receive dividends for 2019 if the companies' general meetings approve dividend payouts on April 30. 

Also, minority shareholders will have pre-emptive rights to subscribe for Ignitis Grupe's shares in its planned initial public offering in proportion to their existing holdings plus the amount of dividend paid for 2019.

Ignitis Grupe is delisting its subsidiaries ahead of its IPO planned for next fall.