AS “Citadele” atbildes uz NaudasLietas.lv jautājumiem.

1.     Regarding Citadele IPO price. Do I understand correctly that all investors ,willing to participate in the IPO, would need to accept their rediness to buy at the Top price of the range (i.e. 2.00 Eur) and option to choose the highest price within the range (1.15 eur-2.00 eur) does not exist?

For all retail investors, orders should be submitted at the top of the price range i.e. EUR 2.00. If the final Offer Price for shares is lower than the top price of the Offer Price Range for shares and your Subscription Order is accepted by Citadele, an amount equal to the difference between the latter and the former will be unblocked and released back into your cash bank account by the Securities Custodian until the settlement date. Please refer to the Prospectus (page 353).

2.     What would be new investors share (economic rights % from 100%) after IPO, From min till max?

The proportion of ownership rights will depend on total number of newly issued shares. This number, in turn, will be determined in the course of the IPO and subject to the final offer price. If there is no over allotment and existing investors do not acquire additional shares, the ownership share for owners of newly issued shares may be up to circa 39%. Please refer to the Prospectus (pages 250-261; Section B6, pages 16-17; and Section E6, page 41).

3.     What would be new investors “voting rights” share after the IPO, in percent, min/max?

Voting rights for all new B class shareholders would amount to circa 17.6% based on a calculation of a maximum of 100 million shares issued. Please refer to the Prospectus (pages 250-261; Section B6, pages 16-17; and Section E6, page 41).

4.     What could be P/B for the Citadele B-class shares after IPO, min/max depending on the IPO share price?

P/B ratios will be subject to the final price of the IPO and the most recent earnings data of the Company. We are not in a position to provide any forward looking statements regarding future earnings.

5.     What could be P/E ratio of the Citadele B-class shares after the IPO min/max taking into account Citadele 2014 earnings?

P/E ratios will be subject to the final price of the IPO and the most recent earnings data of the Company. We are not in a position to provide any forward looking statements regarding future earnings. For the number of existing class A and B shares, please refer to the prospectus (page 250 – 261).

6.     Use of IPO Proceeds: Will Citadele shareholders keep the opportunity to make M&A transactions in the Baltics, which were quoted recently in the Lithuanian mass media (for example Shiauliu Bankas in Lithuania and Danske Bank in Estonia). If you cannot provide broad comments could use yes-or-no.

Citadele’s strategy is to become the leading local bank of choice for aspiring individuals and businesses and to become a “domestic champion” for banking services in each of the Baltic States. The investment from new shareholders and capital raised through the IPO are to be used to help Citadele Group pursue future growth and to repay the outstanding amount under the subordinated loan currently held by the Latvian Privatisation Agency. Please refer to the Prospectus (page 84).