INDEXO has secured full funding for its EUR 15.5 million DelfinGroup takeover bid through binding subscription undertakings and submitted regulatory prospectuses to the Bank of Latvia for its upcoming Baltic share offering.
Binding subscription undertakings of EUR 15.5 million cover 100% of the base Baltic offering of 5,921,044 new shares at EUR 2.62, so the financing of the DelfinGroup bid is fully secured before Bank of Latvia approval. Removing funding risk supports the share price, though the new shares dilute existing holders and the deal still needs regulatory approval.
INDEXO plans a voluntary buyback of up to 8,164,808 DelfinGroup shares at EUR 1.90 per share, lifting its stake from 72.03% to up to 89.99%. A fixed-price tender anchors the share price near EUR 1.90 while the offer is open, limiting upside but also supporting a floor; direction depends on where the shares trade now, which the article does not state.
INDEXO has submitted prospectuses to the Bank of Latvia for a voluntary buyback of up to 8,164,808 DelfinGroup shares at EUR 1.90 each. The company also secured binding subscription undertakings for its EUR 15.5 million Baltic share offering, fully covering the acquisition costs. Additionally, three key employees invested EUR 900,000 in a private placement at EUR 2.50 per share.
Yes, investors have given binding subscription undertakings of EUR 15.5 million, which fully covers the planned bid of about EUR 15.5 million, but everything still depends on the Bank of Latvia approving the prospectuses.
The Baltic offering is at an indicative EUR 2.62 per share, and the private placement was done at EUR 2.50 per share, the same price as the directed issues in July and October 2026.
EUR 1.90 per share for up to 8,164,808 shares, which would raise INDEXO's holding from 72.03% to up to 89.99%.
Not yet. The announcement is not an offer; shareholders should decide only on the basis of the prospectus once it is approved by the Bank of Latvia and published.