Inbank is planning to sell its 7.94% share in Coop Pank, which it acquired in
January 2017.
According to Priit Põldoja, Chairman of the Supervisory Board of Inbank, the
share in Coop Pank was acquired two years ago as a temporary financial
investment. "Coop Pank has developed exceptionally fast in recent years and
needs a considerably larger and broader capital base in order to realise its
potential," Põldoja said. "Inbank as a financial investor has decided not to
participate in increasing the share capital of Coop Pank and to sell its shares.
We're planning to invest the capital released as a result of the transaction
into our international growth," Põldoja added.
Negotiations for finding a buyer for the share have just started, which is why
the details of the transaction cannot be disclosed yet. It is currently not
possible to confirm that the initiation of negotiations will lead to actual
transactions. Inbank will inform market participants regarding further
developments of the sale of the shares via the stock exchange information
system.
Inbank is digital bank with a focus on consumer finance. It operates in Estonia,
Latvia, Lithuania and Poland, and receives deposits from Germany, Austria and
the Netherlands. Inbank has more than 1,500 active partners and over 478,000
active customer contracts. Its bonds are listed on the Nasdaq Tallinn Stock
Exchange on the Baltic Bonds List.
Further information:
Kristin Pihu
Inbank AS
Head of Marketing and Communications
kristin.pihu@inbank.ee (mailto:kristin.pihu@inbank.ee)
+372 5348 2436
|