Banks, Financial Services, Investments, Latvia

Following this, the bank’s share capital is comprised of 34,470,000 ordinary voting shares and 3,530,000 employee shares without voting rights attached. The newly issued shares constitute 7.8% of the bank’s voting share capital.

"Upon completion of the share issue, we have achieved the planned amount of Tier 1 capital and got more proof that the majority of the shareholders actively supports the development strategy of ABLV Group," said Ernests Bernis, ABLV Bank Chief Executive Officer (CEO).

The subscription to ABLV Bank registered shares began on April 18, 2016. The issue of shares was performed in the form of non-public offering, and only current shareholders of the bank participated. In total, 86 shareholders submitted their applications for participation in the new issue of shares, which makes 63% of the total number of the shareholders with voting rights; the paid amount of applications exceeded the offer by EUR 4.2 million, and therefore some of the applications were satisfied partly. The sale price of one share was EUR 14.15.

ABLV Banka, generated EUR 21.5 million profit in the first quarter of 2016.

ABLV Bank is the second largest bank in Latvia by assets. The largest shareholders – Olegs Fils, Ernests Bernis and Nika Berne – directly and indirectly hold 86.25% of ABLV Bank’s share capital.