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JSC Akciju komercbanka Baltikums plans to increase share capital of Investment Management JSC Baltikums Asset Management

18.08.2006

JSC Akciju komercbanka Baltikums plans to increase share capital of its daughter company Investment Management JSC Baltikums Asset Management by LVL 1.07 million.

The funds raised as a result of a new Investment Management JSC Baltikums Asset Management share issue will be directed towards increasing the company's interest in life insurance company JSC Baltikums Dziviba with the aim of accumulating a 93% stake.

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.

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