The Bank of Lithuania approved the listing prospectus for the ordinary registered shares of UTIB INVL Technology, a closed-end investment company which invests in information technology businesses. Based on this decision, which was made today, the resumption of trading in the shares of UTIB INVL Technology on the Nasdaq Vilnius exchange is planned as of 19 July.
The company’s new share prospectus was prepared in light of the closed-end investment fund (UTIB) license which the Bank of Lithuania issued to INVL Technology on 14 July. Under the company’s Articles of Association, UTIB INVL Technology will operate until 14 July 2026, with extension possible for a further two years.
Management of the company which obtained the status of a closed-end investment company has been assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltic countries. INVL Technology seeks to generate a significant return for investors by focusing on increasing the value of the companies it controls.
The equity capital of INVL Technology was EUR 24.23 million as of 31 March 2016, or EUR 1.99 per share. The shares of INVL Technology have traded on the Nasdaq Vilnius exchange since June 2014.
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.