The trade in newly issued shares of IT investment company INVL Technology will start on Friday. Investors acquired shares for the amount of EUR 10 million.

On Wednesday the Register of Legal Entities registered the new wording of the Articles of Association of INVL Technology and the Central Securities Depository of Lithuania announced that the new shares share issue will be merged with previously registered shares shares on 10 July.

„The new share issue is the largest in the Baltic States since 2011. We achieved the goal to attract EUR 10 million and investors, whose demand was not fulfilled, will be able to acquire shares on the stock exchange from returned funds“ – said Kazimieras Tonkunas, director of INVL Technology.

According to him, the company currently is actively working on a new acquisitions and in the near future plans to complete Etronika acquisition deal. Etronika is an IT company operating in banking and retail systems development.

Newly issued shares were subscribed by 126 investors . 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.

Total demand for new shares of INVL Technology amounted to EUR 10.9 million, and retail investors purchased around 88 per cent of their requested amount.

INVL Technology shares are listed on NASDAQ Vilnius stock exchange.