JSC “Ventspils nafta” sold at LVL 1.84 per share

05.10.2006 RIG

Today the privatization cash auction of 40,345,556 (38.62%) state-owned Ventspils nafa shares was a success. The price was LVL 1.84 per share, thus raising LVL 74.2 million to the state.

Altogether the investors bid orders had 44,439,376 shares. The lowest price, according to the auction regulations, was LVL 1.81, while the highest price bid by the investors was LVL 3.50. The winning bidders are those who bid at LVL 1.84 or higher.


The investors were bidding for “Ventspils nafta” shares via 8 RSE members: DnBNord, Finasta AB, Hansabanka, Nordea bank, Parex banka, SEB Latvijas Unibanka, SEB Eesti Ühispank, Vilniaus bankas.

Sale of “Ventspils nafta” 38.62% state-owned shares was organized by “Parex banka”, “Suprema” and “Suprema Securities”. The selling process closed today, on October 5, 2006, at 12:00 Latvian time, with a single price auction at the Riga Stock Exchange.

Daiga Auziņa-Melalksne, Chairman of Management Board, Riga Stock Exchange: “The auction model selected by the Latvian Government and run on the Riga Stock Exchange SAXESS trading system assured a full transparency of the auction and equal conditions to all participants. We are satisfied that the auction was a success – this is evidenced by the vivid interest by the investors. The winning bidders, subsequent to settlement, may start trading on secondary market from October 11, 2006.”

“Ventspils nafta” shares are listed on the Riga Stock Exchange Main list, and are a constituent in local index OMXR and in Baltic index BALTIX.


For more information, please contact:
Krista Grīntāle, Corporate Communication Director
Riga Stock Exchange
Phone: +371 7212431