Unibanka to go public

RIGA (BNS) - The adjourned emergency meeting of Latvijas Unibanka shareholders decided Tuesday to make public the eighth closed issue of the bank's shares with an aggregate par value of 8.55 million lats ($15 million).

The resolution to make the closed share issue public was voted for by 86.8 percent of the bank's shareholders who were present at the meeting. Shareholders representing 77.82 percent of the total number of shares in Latvijas Unibanka participated in the meeting.

The shareholders also authorized the bank's board to develop, approve, sign, present and amend the prospectus for the eighth public share issue on behalf of Latvijas Unibanka.

At the end of last year the bank increased its fixed capital by 8.55 million lats, issuing 8.55 million ordinary voting shares that were bought by a strategic investor, Swedish Skandinavska Enskilda Banken (SEB).

At the end of September last year Latvijas Unibanka was the second largest commercial bank in Latvia in terms of assets. Its shares are quoted on the official list of Riga Stock Exchange as well as by stock exchanges in London and Berlin.