Invalda INVL sells part of Šiauliu Bankas shares to long-term shareholders

On 22 March 2024, Invalda INVL, the asset management group and the largest shareholder of Šiauliu Bankas, announced a minor reduction in its stake. The sale of 1.95 million shares, representing approximately 0.29% of Šiauliu Bankas' share capital, ensures Invalda INVL remains compliant with the 20% ownership threshold set by the European Central Bank (ECB). 

Part of the shares were acquired by Algirdas Butkus, the founder of the bank (0.8 million or 0.12% of the share capital). Gintaras Kateiva, a long-standing shareholder of the Bank, acquired 0.143 million or 0.02 % of the share capital. Due to the high liquidity of Šiauliu Bankas' shares, a significant part of the shares was sold on the market on the short notice, while the remaining part (0.5 million shares) will be sold in the near future.  

"The minor reduction of Invalda INVL stake was planned in advance in order to comply with the thresholds set by the ECB’s decision. The shareholder's position remains unchanged: following the completion of the previously announced acquisition of the European Bank for Reconstruction and Development's (EBRD's) stake in the bank, Invalda INVL will become the bank's largest shareholder with a stake of up to 20%.  

It is equally important that a portion of the shares were acquired by long-standing shareholders of the bank, who demonstrate their confidence in the bank's business prospects and new strategy," says Vytautas Sinius, CEO of Šiauliu Bankas.  

After the implementation of all the signed share transfer agreements, the shareholding of Invalda INVL in Šiauliu Bankas will reach almost 20%, the shareholding of Willgrow, the manager of Girteka Logistics, will be 8.9%, EBRD will own 7.2%, Tesonet Global will own 5.3%, A. Butkus will own 5%, G. Kateiva and related parties will own 4.9%. The rest of Šiauliu Bankas shares is held by institutional and retail investors. 

Additional information:
Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@sb.lt