Trading in INVL Technology shares in NASDAQ Vilnius Stock Exchange is planned to be renewed from 12 March. INVL Technology – a company investing into IT businesses. Trading in INVL Technology shares was halted due to the completion of merger with BAIP group, a company owned by INVL Technology itself.

On Monday the Supervision Authority of the Bank of Lithuania approved that the INVL Technology information is equivalent to the information of prospectus of INVL Technology, AB.

“Company operating after the merger took over the competencies and all exeprience, intellectual capital, connections with science community and other value creation practices of both companies. We plan to apply to Bank of Lithuania for closed-end investment company license and we will aim to raise at least EUR 10 million for new investments”, – Kazimieras Tonkunas, the director of INVL Technology, said.

According to him, the raised funds will be invested into other information technology companies, operating in the Baltic States and Eastern Europe, also, into strengthening the existing capacity.

Income of the companies, owned by INVL Technology, grew by 14 percent to EUR 16.74 million (LTL 57.8 million), EBITDA – 34 percent to EUR 1.73 million (LTL 5.98 million) in 2014 and net profit – 152 percent to EUR 0.96 million (LTL 3.3 million).

Main shareholders of INVL Technology, AB are: A. Banys (5 percent) and LJB Investments, a company related to A. Banys, (20 percent), Irena Ona Miseikiene — (19 percent), Kazimieras Tonkunas (13.7 percent), Invalda LT (8.2 percent) and Lucrum Investicija (5 percent). 
The company has more than 3500 shareholders. 

The largest investments are 100 percent of BAIP, a critical IT infrastructure services company, Norway Registers Development operating in Norway together with its Lithuanian information systems design and development company NRD, and specialized cyber security company NRD CS.