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JSC Akciju komercbanka Baltikums has increased the share capital of Investment Management JSC Baltikums Asset Management
23.05.2006
JSC Akciju komercbanka Baltikums has increased the share capital of its daughter company Investment Management JSC Baltikums Asset Management by LVL 1.28 million. After the increase paid up share capital of Investment Management JSC Baltikums Asset Management is LVL 1.43 million.
The funds attracted as a result of the increase of the share capital will be used to acquire controlling interest in life insurance JSC Baltikums Dziviba.
The decision on the increase is related to the plan of the Bank's shareholder to restructure JSC Baltikums Bankas Grupa and JSC Baltikums Apdrosinasanas Grupa. As a result of the restructuring, it is planned to separate investment and savings business from risk insurance business by putting the full spectrum of investment and savings services (asset management, management of investment and pension funds, life insurance) under the management of the Bank and its daughter companies.