SIA DelfinGroup will become a joint stock company

09.09.2020

mintosblog

Key takeaways

  • On 26 August, SIA DelfinGroup shared plans to transform the legal form of the company into a joint stock company and submitted its project to the Enterprise Register of the Republic of Latvia.
  • On 31 August, the project was included in the Enterprise Register of the Republic of Latvia which means the lending company has now begun its reorganization process and transformation into a joint stock company.
  • Changing the company’s legal form to a joint stock company is a decision made to amplify its growth plans.

On August 26, 2020, SIA DelfinGroup, which operates in Latvia under the brands Banknote, VIZIA and Riga City Pawnshop, had prepared and supplied to the Enterprise Register of the Republic of Latvia a reorganization project to transform the company into a joint stock company. The transformation of the company into a joint stock company will be carried out in the form of reorganization and it is considered that the process will last for about 4 months, in accordance with the legislation, and relevant changes will be registered in the Enterprise Register of the Republic of Latvia.

The reorganization of the company into a joint stock company follows the announcement on the increase of the company’s share capital to € 4 million on 28 July 2020, which was registered in the Enterprise Register of the Republic of Latvia on 4 August 2020. On 31 August 2020, the project was included in the Enterprise Register of the Republic of Latvia which means the lending company has now begun its reorganization process and transformation into a joint stock company. 

After the reorganization, it is planned that the share capital of the joint stock company will consist of 40 million shares with a value of € 0.10 per share. As before, the governing bodies of the joint stock company will be the council of the company and the board of the company.

Agris Evertovskis, the Chairman of the Board: “Changing the company’s legal form to a joint stock company is a decision made with a forward-looking view in the future. For example, a joint stock company allows employee stock options that would encourage the involvement of the wider team in achieving the company’s goals and to reap the benefits of achieving those goals. I believe that the decision will also increase the company’s hitherto high rating among existing and potential investors in the company’s bonds and the Mintos marketplace.”

DelfinGroup on Mintos

DelfinGroup is a licensed consumer lending company founded in 2009. The Group is represented by the Banknote, VIZIA, and Riga City Pawnshop brands. The Group’s core services are consumer loans, distance loans, pawnbroking loans. SIA DelfinGroup’s vision is to always strive for the highest recognition. The company’s management values are simplicity, accessibility, respect, progress, ambition, mastery, and focus on the clients.

SIA DelfinGroup has issued bonds that have been listed on the Nasdaq Riga stock exchange since 2014 and the company has been present on the Mintos marketplace since 2017. The company’s investors include both individuals and institutional investors from Latvia, Lithuania, Estonia, and other countries.

The current outstanding DelfinGroup’s portfolio on Mintos is € 13 367 278. There are 76 147 investors with active investments in Delfingroup loans with an average investment of € 175 per investor.

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