ABLV Bank Equity Increased by EUR 38.2 Million


Riga, Latvia, 2016-06-03 09:00 CEST (GLOBE NEWSWIRE) -- Another issue of ABLV Bank shares has been successfully completed, under which there were 2 700 000 registered shares issued. 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 18 April 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 Bank, AS is the largest independent private bank in Latvia. The bank’s major shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86.55% of the bank's voting share capital. 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, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, Limassol, and New York.

         Ilmārs Jargans
         
         Head of Public Relations Department
         ABLV Bank, AS
         Tel.: +371 6777 5296
         e-mail: ilmars.jargans@ablv.com