Today   the   Riga   Stock   Exchange  signed  an  agreement  with  the

international  investment  bank  Williams de Broe on cooperation in the

international  offering  for  cash  of  JSC  Latvian Shipping Company's

(Lasco)  51%  shares.  The  international consortium established by the

Stock  Exchange now is to start its operations for preparing the public

offering  of  Lasco  shares. The consortium will be managed by the Riga

Stock  Exchange. It includes the international investment bank Williams

de  Broe and provider of investment banking services Suprema , which is

represented in all three Baltic States.



Tasks  of  the consortium include due diligence of Lasco, evaluation of

the  company and preparation of complete documentation of the offering,

marketing  of  the  public  offering,  identification  of investors and

organization  of  roadshows,  as a result of which sale of Lasco shares

and their listing in the Stock Exchange are to be implemented.



At  the  moment, due diligence of Lasco has already been started and it

is  to be completed by the end of March. It is expected that the public

offering  of  Lasco  for cash to local and international investors will

take place in the middle of June.



Brief information on members of the consortium:



Williams de Broe

is  an international investment bank, founded in London in 1869. 80% of

its shares is owned by ING Group , and 20% - by the company management.

ING  Group  is among 10 largest European financial institutions and one

of the 20 largest in the world. 



Williams de Broe

is  the leading investment company in London operating in the sphere of

secondary  market.  Its  Baltic  experience  is  mainly  connected with

corporate finance operations in Estonia and Lithuania: Williams de Broe

participated  in  the  international offering of 35% Lietuvos Telekomas

shares,   international   offering   of   Bankas   Hermis  (Lithuania),

international  offering  of  Rokiskio Suris (Lithuania), initial public

offering of Forexbank (Estonia).



Suprema

is  the leading provider of investment banking services in the Baltics,

recognized  to  be the best market research company 2000 in the Baltics

by  Central  European . Suprema had distributed shares of Eesti Telekom

and  Lietuvos  Telekomas  in the Baltic market at the public offerings.

Suprema  has  experience  in  financial consulting in similar projects,

e.g.,  when  SEB  acquired  Latvijas Unibanka, Eesti Uhispank, Vilniaus

bankas,  as  well  as  consulting  in various significant privatization

projects  in  the  Baltics:  Tallinas  ūdens,  Parnu Siltums, Klaipēdas

Stividoru  kompānija,  Eriautobasi,  Narva  Elktrivorgud  . Now Suprema

manages  the  largest pension fund in the Baltics, members of which are

employees of Lattelekom and Latvenergo . 



Marketing and information department

Riga Stock Exchange

Tel. 7212 431