Bank of Lithuania opened the way for Ignitis grupė debut on the stock exchange
The Bank of Lithuania today approved the prospectus of AB Ignitis grupė, which provides for the issuance of up to 20.9 million new ordinary registered shares (nominal value of one share – €22.33), part of which will be distributed on foreign markets in the form of global depository receipts (GDR) (one share equals one GDR). Shares of AB Ignitis grupė will be offered publicly for the first time, they will be traded in Vilnius, while the depository receipts – on the London Stock Exchange.
“This is an important event on the Lithuanian capital market and a new opportunity for investors. We hope that this will encourage new issuers to enter the Lithuanian Stock Exchange and increase the involvement of the population, thus promoting the development of the entire capital market,” said Vaidas Cibas, Head of the Regulated Market Supervision Division of the Bank of Lithuania.
It is expected that trading in shares of AB Ignitis grupė on the Nasdaq Vilnius exchange and GDR on the London Stock Exchange will start on 7 October 2020.
These securities will be distributed in two ways: publicly available to retail investors and non-public institutional investors in Lithuania, Latvia and Estonia.
Retail investors will be able to acquire the shares offered for them during the period of validity of the offer – from 12:00 on 21 September 2020 until 13:00 on 1 October 13. To this end, they will be required to have a securities account with a financial institution that is a member of Nasdaq Vilnius. The share price indicated in the prospectus ranges from €22.50 to €28.00, and the final share price will be determined after the closing of the offer and will be the same for all investors.
The right of pre-emption against other shares shall be granted to the managers and current employees of AB Ignitis grupė as well as to former shareholders of AB Ignitis gamyba and AB Energijos skirstymo operatorius, who sold their shares in the companies at the time of their official offers and have not filed complaints about the tender offer, share buy-out or initial public offer (IPO) processes.