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TGS Baltic has successfully advised AB INVL Technology on its transformation into a special closed-ended investment company. A necessary license and approval were issued by the Bank of Lithuania in July 2016. The Bank of Lithuania has also approved the company’s share prospectus for listing of the shares on the NASDAQ OMX Vilnius stock exchange.
This is the first time when a listed company was transformed into a special closed-ended investment company in the Baltics.
TGS Baltic provided all legal services throughout the process, drafted all necessary transaction documentation, and advised in obtaining the necessary license, admitting shares to trading on the NASDAQ OMX Vilnius and represented the client before the Bank of Lithuania and the Central Securities Depository of Lithuania.
AB INVL Technology is a company investing in information and communication technologies, listed on NASDAQ OMX Vilnius stock exchange. The company was created after the merger of AB BAIP Grupė and AB INVL Technology. INVL Technology operates as a cluster of B2B- and B2G-oriented IT businesses with a focus on four key areas: business climate improvement and e-governance, IT infrastructure, cyber security and IT intensive industries’ solutions. The largest investments of INVL Technology currently are companies in Europe (Lithuania, Norway, Estonia, Moldova) and East Africa (Tanzania, Rwanda and Uganda): Norway Registers Development AS with subsidiaries UAB NRD, UAB ETRONIKA, Norway Registers Development East Africa Ltd, Norway Registers Development Rwanda Ltd. and Infobank Uganda Ltd; UAB BAIP with subsidiary UAB Acena; UAB NRD CS; UAB Algoritmų Sistemos; and Andmevara AS with subsidiary Andmevara SRL.
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