INVL Technology successfully completes the biggest public offering in the Baltics

07 / 15

TGS Baltic advised INVL Technology, a company investing in information and communication technologies, on successfully completed public offering of shares with the total issue price of over EUR 10 million and admission thereof to trading on the NASDAQ OMX Vilnius. This new share issue is the largest in the Baltic States since 2011.

In aggregate 126 investors subscribed the newly issued shares. The existing shareholders acquired new shares of INVL Technology for the amount of EUR 4.5 million, institutional investors – EUR 1.7 million and retail investors – EUR 3.8 million.

TGS Baltic provided all legal services throughout the process, drafted all necessary transaction documentation, and advised on regulatory issues relevant to the completion of the share public offering. The law firm also developed a new share issue prospectus, as well as all other documents related to the project and represented the client before the Bank of Lithuania and the Central Securities Depository of Lithuania.

Vidmantas Drizga, Partner, Agnius Pilipavičius, Partner and Mantas Gofmanas, Senior Associate, led TGS Baltic team.

INVL Technology operates as a cluster of B2B and B2G-oriented IT businesses with a focus on four key areas: business climate improvement and e-governance, IT infrastructure, cyber security and IT intensive industries’ solutions. The largest INVL Technology investments currently are companies in Lithuania, Norway, Tanzania and Uganda: Norway Registers Development AS with subsidiaries NRD UAB, NRD East Africa Ltd and Infobank Uganda Ltd, BAIP UAB, Acena UAB and NRD CS UAB.