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ESO, Ignitis Gamyba set to delist from Vilnius stock exchange
BC, Vilnius, 04.12.2019.
Print version
Print versionLithuania's state-owned energy group Ignitis Group is set to delist its subsidiaries, Ignitis Gamyba and Energijos Skirstymo Operatorius (ESO), from the Nasdaq Vilnius Stock Exchange.
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The two companies said in a stock exchange release that their shareholders decided on Wednesday to delist all of their shares from trading on the market.
The shareholders authorized Ignitis Group to launch a tender offer to buy the outstanding shares in ESO and Ignitis Gamyba.
More detailed information on the terms of the tender offer, including the price, will be made public after the central Bank of Lithuania approves the tender offer circular.
It was said earlier that the tender offer prices would be set based on the weighted average market price of the shares for the past 24 months, at 0.788 euros for ESO and 0.575 euros for Ignitis Gamyba.
Ignitis Group holds 96.82% of shares in Ignitis Gamyba and 94.79% in ESO.
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