INVL Technology acquires BAIP bonds for EUR 1.55 mln

INVL Technology, a company that invests in information technology businesses, has acquired EUR 1.55 million of bonds from the company BAIP, which it owns. The bonds pay an annual interest rate of 7.625 per cent and mature on 30 June this year. The money raised in the bond issue will be used to ensure the participation of INVL Technology group companies in a foreign tender.

INVL Technology’s net asset value at 30 September 2016 was EUR 23.65 million, or EUR 1.9425 per share. The company directly and indirectly controls 16 businesses, its companies’ representative offices operate in eight countries: Lithuania, Latvia, Estonia, Moldova, Norway, Tanzania, Rwanda and Uganda.

The NRD group of companies and NRD CS are currently establishing the company NRD Bangladesh Ltd in Bangladesh. In November 2016, Algoritmų Sistemos announced it would acquire 100 per cent of the shares of Profectus Novus.

INVL Technology has invested in the Norwegian company Norway Registers Development AS with subsidiaries NRD UAB and Etronika UAB in Lithuania, Norway Registers Development East Africa Ltd in Tanzania, Norway Registers Development Rwanda Ltd in Rwanda, and the associated company Infobank Uganda Ltd in Uganda. It has also invested in BAIP UAB with its subsidiary Acena UAB, NRD CS UAB and Algoritmų Sistemos UAB, all in Lithuania, and Estonia’s Andmevara AS with its subsidiary Andmevara SRL in Moldova. The companies owned by INVL Technology have more than 300 employees.

The closed-end investment company (UTIB) INVL Technology is listed on the NASDAQ Vilnius exchange and is managed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltic countries.

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