News Column

Invalda LT established Invalda LT Investments that will provide asset management services

February 27, 2014

Vilnius, Lithuania, 2014-02-27 15:02 CET (GLOBE NEWSWIRE) -- Invalda LT, one of the largest investments companies in Lithuania, established the company Invalda LT Investments that will apply for the asset management company licence issued by the Bank of Lithuania. The share capital of Invalda LT Investments amounts to LTL 1.381 million (EUR 400 thousand), it is divided into 40 shares, nominal value of one share is LTL 34.528 thousand (EUR 10 thousand). Invalda LT owns 100 % of Invalda LT Investments shares. “In the nearest future we plan to apply to the Bank of Lithuania for the asset management company licence that will allow us to manage assets of both institutional clients and private persons”, – Darius Sulnis, the president of Invalda LT and director of Invalda LT Investments, said. Invalda LT Investments in the beginning should manage separated real estate, agricultural land and information technologies companies. These companies will apply for closed-end investment company licenses and in their essence will be similar to closed-end funds. Invalda LT manages assets of its shareholders since 1991.When the reorganisation will be implemented the company will switch to the classical asset management model structure. “We expect Invalda LT Investments to develop its’ activity successfully thus becoming an important part of Invalda LT and one of the major private equity, real estate and investment funds management companies in the region”, – Darius Sulnis said. Alvydas Banys, the Chairman of the Board of Invalda LT, Darius Sulnis and Raimondas Rajeckas, the CFO of Invalda LT were elected to the Board of Invalda LT Investments. Invalda LT also established three new companies - INVL Baltic Real Estate, INVL Baltic Farmland and INVL Technology, that will be transferred to three companies separated from Invalda LT. The person authorized to provide additional information: Darius Sulnis President Phone +370 5279 0601 Copyright © 2014 OMX AB (publ).

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: OMX

Story Tools