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The planned starting price at the auction is EUR 6.90 per share.

The company said that, in the course of divesting of bad assets in 2015, a shareholder loan was granted to Macro Riga. The amounts outstanding (current and non-current assets) as at December 31, 2016, were approximately EUR 2.47 mln. "The shareholder has announced its intention to reduce the loan amount outstanding by selling up to a similar value of shares via an auction process on Nasdaq Riga’s trading system," HansaMatrix said.

Prior to the announcement of the dates of the auction, this proposal is first subject to regulatory approval as it will be deemed to be a public offering of shares, available to any investor. More details will be published when additional information is available, the company said.

Since the admission to trading, HansaMatrix shares have been traded in the range between EUR 6.95 and EUR 8.15 range during auto-match continuous trading.

In early January this year Macro Riga reduced its stake in HansaMatrix, selling 56,100 or 3.07% of HansaMatrix shares at a price of EUR 6.85 per share.

Macro Riga is fully owned by Ilmars Osmanis, the board chairman of HansaMatrix. According to the stock exchange information, in late October 2016 Macro Riga held 64.83% of HansaMatrix shares, FlyCap Investment Fund I AIF held 22.08% and Swedbank pension funds 6.42%.

HansaMatrix share capital is comprised of 1,829,381 shares with nominal value of EUR 1.

According to preliminary figures, HansaMatrix group closed 2016 with a turnover of EUR 16.939 mln, which is the highest turnover in the company's history and represents a 26.9% growth from 2015, but its profit fell 45.8% to EUR 586,966.

HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial segments and other services to high added value business segments.

HansaMatrix shares are quoted on the Main List of the Nasdaq Riga stock exchange.