The liquidity of the shares of INVL Technology, a company that invests in information technology businesses, will be increased by Šiaulių Bankas. Under an agreement that has been signed, starting on 8 August the bank will provide market maker services, displaying buy and sell quotations for the shares of INVL Technology during at least 85 per cent of trading time on the exchange.
“In selecting a market making partner, our aim is to make our shares more attractive to investors,” said Kazimieras Tonkūnas, Managing Partner for the closed-end investment company (UTIB) INVL Technology at INVL Asset Management.
“Liquidity is one of the most important factors for the efficient functioning of financial markets. By providing market maker services we seek to expand the opportunity for investing, with particular focus on those for whom the IT sector is relevant,” said Šiaulių Bankas Markets and Treasury Department Director Tomas Varenbergas.
The equity capital of INVL Technology as of 31 March 2016 was EUR 24.23 million, or EUR 1.99 per share, which is 21 per cent more than the share price in the company’s 10-million-euro share offering in July 2015 (the offering price was EUR 1.65).
INVL Technology seeks to generate a significant return for investors by focusing on increasing the value of the businesses it controls. Since completing its share offering in July of last year, the company has invested in Etronika and Algoritmų Sistemos in Lithuania and Andmevara in Estonia. The total value of these acquisitions is EUR 3.25 million. The company plans to continue investing in business acquisitions, for that purpose allocating money that was raised in the share offering as well as earnings.
INVL Technology operates as a cluster of IT businesses focused on sales to large corporate and public sector clients and active in four main areas: business climate improvement and e-governance, IT infrastructure, cyber security, and solutions for IT intensive industries.
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 Infobank Uganda Ltd. in Uganda. It has also invested in BAIP UAB with its subsidiary Acena UAB, NRD CS UAB and Algoritmu Sistemos UAB, all in Lithuania, and Estonia’s Andmevara AS with its Moldovan subsidiary Andmevara SRL.
In July this year INVL Technology received a closed-end investment company license and its management was assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltic countries.