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Tark Grunte Sutkiene Advises AB INVL Technology on Transformation Into Special Closed-Ended Investment Company Featured

Tark Grunte Sutkiene has advised AB INVL Technology on its transformation into a special closed-ended investment company. The Bank of Lithuania issued the necessary license and approval in July 2016 and approved the company’s share prospectus for listing of the shares on the NASDAQ OMX Vilnius stock exchange.

According to Tark Grunte Sutkiene, this is the first time a listed company has been transformed into a special closed-ended investment company in the Baltics.

AB INVL Technology, which invests in information and communication technologies, is listed on NASDAQ OMX Vilnius stock exchange. The company was created by the merger of AB BAIP Grupe and AB INVL Technology. INVL Technology operates as a cluster of B2B- and B2G-oriented IT businesses with a focus on four areas: business climate improvement and e-governance, IT infrastructure, cyber security, and IT-intensive industry solutions. Its largest investments currently are in companies in Europe (Lithuania, Norway, Estonia, Moldova) and East Africa (Tanzania, Rwanda and Uganda).

Last year Tark Grunte Sutkiene also advised AB INVL Technology on its public offering of shares — which the firm described at the time as the largest in the Baltic States since 2011 — and admission thereof to trading on the NASDAQ OMX Vilnius (as reported by CEE Legal Matters on July 15, 2016).

The firm’s team in this most recent matter included Partners Vidmantas Drizga and Agnius Pilipavicius, Senior Associate Mantas Gofmanas, and Associate Egle Mazetyte.

Last modified onTuesday, 19 July 2016 08:30
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