BaltCap plans to make a voluntary share purchase offer to HansaMatrix shareholders

  • 2023-02-17

BaltCap, the leading private equity fund manager in the Baltics, through its company Emsco, has submitted to the Bank of Latvia a prospectus for the voluntary share purchase offer of JSC HansaMatrix to acquire at least 75% of its voting shares. According to the prospectus, the purchase price per share of the electronic manufacturing services company HansaMatrix will be EUR 8.50.

The offer will be effective upon the Bank of Latvia's decision to authorise the voluntary share purchase offer.

"BaltCap managed fund has been a minority shareholder of HansaMatrix for more than four years and we have had the opportunity to follow the company’s development. As a private equity investor, our goal is to help promising companies grow and become leading businesses in the region and beyond. We are certain that HansaMatrix has a better chance to accelerate growth with a more consolidated shareholder structure. We believe we are offering an attractive price to HansaMatrix shareholders, which is a 22% premium on the price at the end of 2022 and 12% premium on the price of 16 February 2023," says Juris Pārups, Investment Director at BaltCap

If the voluntary share purchase offer is successful, BaltCap intends to propose the delisting of HansaMatrix from the regulated market. 

In November 2022, the Competition Council of Latvia already decided to allow BaltCap's company Emsco to acquire HansaMatrix. 

BaltCap managed fund currently owns 9.92% of HansaMatrix shares.

The offer will be valid for 30 days 

This offer is valid for 30 days from the date of publication of the prospectus on the Nasdaq Riga website. The exact start and end date of the voluntary share purchase offer will be determined after all authorisations have been received, and it will be communicated to all shareholders. 

Upon acceptance of the offer, HansaMatrix shareholders will be required to contact their bank or investment brokerage firm where they have their securities account.

About BaltCap

BaltCap is the largest and most experienced private equity investor in the Baltics covering buyouts, growth, venture, and infrastructure investments. Since 1995, BaltCap has invested in over 100 companies across a wide range of industry sectors and raised aggregate capital of over €700 million. BaltCap has a team of 35 investment professionals working across Tallinn, Riga, Vilnius, Warsaw, Helsinki and Stockholm offices. 

Emsco Ltd is a company set up to implement the voluntary share purchase process of HansaMatrix.

Please note that full and detailed information on the rights and obligations of all interested parties in the voluntary takeover bid is provided in the Takeover Law and the respective takeover prospectus, as approved by the Bank of Latvia, and the foregoing in no way modifies the information contained in the takeover prospectus or terms or conditions of the offer.