ABLV Bank increase equity capital to LVL 15 million

Riga, Latvia, April 27, 2012, 18:05 / Banking

Issue of ABLV Bank, AS new shares has been successfully completed. 10 600 shares have been issued additionally to 121 000 that constituted the bank share capital before, including 110 000 shares with voting rights and 11 000 employee shares without voting rights. Employee shares have been issued in March 2012 and divided among 21 senior managers of the bank.

Though the issue was in the form of non-public offering to a limited group of persons, the overall paid amount of applications exceeded LVL 19 million, which is 29% above the offer amount; therefore, some of the applications have been fulfilled partly. The shares’ selling price was LVL 1410 each. 35 bank current shareholders took part in share issue.

Upon completion of the issue, bank capital consist of 120 600 shares with voting rights and 11 000 employee shares without voting rights. The bank major shareholders – Oleg Fil, Ernest Bernis and Nika Berne – part in the bank capital stays as previous.

ABLV Bank Chairman of the Board and Chief Executive Officer Ernest Bernis remarks: “The fact that demand far exceeded supply, confirms once more that we have many loyal shareholders who wish to participate personally in the bank's development and to grow with us.”

ABLV Bank is the largest independent private bank in Latvia. The bank’s majority shareholders Oļegs Fiļs, Ernests Bernis and Nika Berne directly and indirectly hold 86% of the bank's share capital. ABLV Group includes ABLV Bank, AS; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; ABLV Transform Partnership, 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, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.

Ilmars Jargans
Head of Public Relations Department
+ 371 6777 5296