Inbank Issues 10 Million Euros in New Shares
AS Inbank has successfully issued 555,384 new shares through a direct offering aimed at both existing shareholders and new investors. The subscription period recently wrapped up, during which the Supervisory Board of Inbank decided to issue new shares worth a total of 10.14 million euros to 52 investors.
Details of the Share Issue
The subscription period ran from 9 August 2024 until the end of the subscription process. Each share was priced at 18.25 euros, which includes a nominal value of 0.10 euros and a share premium of 18.15 euros. Once the share capital increase is registered with the Estonian Commercial Register, Inbank's total share capital will reach 1,151,966.3 euros, resulting in a new total of 11,519,663 shares outstanding.
Management’s Insights on Capital Growth
Priit Põldoja, the Chairman of the Management Board, expressed his pleasure with the outcome: “Inbank continues to thrive and expand even amidst tough economic and capital market conditions. I’m delighted that we achieved our capital raise goal entirely and welcomed several new investors, including Swedbank pension funds as our lead investor, contributing 3 million euros to the company.”
Strategic Growth and Market Positioning
Põldoja further highlighted the importance of this capital injection, stating, “We are witnessing that Inbank’s unique business model is capturing more market share, and this funding will enable us to accelerate our international growth even further.” This development is vital, as it strengthens Inbank's position and strategically aligns it for future opportunities in the financial sector.
Inbank's Business Model and Operations
Inbank is a forward-thinking financial technology company operating under an EU banking license, connecting merchants, consumers, and financial institutions through its state-of-the-art embedded finance platform. The company has established partnerships with 6,100 merchants and currently manages over 895,000 active contracts, gathering deposits across seven European markets. Additionally, Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange, enhancing their appeal to a wider range of investors.
Contact Information
For further inquiries, please reach out to:
Merit Arva
Inbank AS
Head of Brand and Communications
Email: merit.arva@inbank.ee
Phone: +372 553 3550
Frequently Asked Questions
What is the main objective of Inbank’s recent share issue?
The primary aim is to secure capital for growth and expansion, enabling Inbank to boost its market share and expedite its international operations.
Who were the key investors in the recent share offering?
Notable investors included Swedbank pension funds, which acted as the lead investor by contributing 3 million euros to the company.
How many new shares were issued by Inbank?
Inbank issued a total of 555,384 new shares during the recent offering.
What will be the total share capital of Inbank after the new issue?
Following the registration of the increase, Inbank's total share capital will amount to 1,151,966.3 euros.
On which stock exchange are Inbank bonds listed?
Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange, which increases their visibility and accessibility for investors.
