On August 19, 2025, IPAS INDEXO received a notification regarding the acquisition of major holdings. Aigars Kesenfelds’ family investment company, ALPPES Capital, has increased its shareholding in INDEXO to 8.71%.
In addition, representatives of the investment company ALPPES Capital have informed INDEXO that they also participated in the latest INDEXO share issue, which took place from August 8 to 15. Upon full completion of this share issue transaction, ALPPES Capital is expected to further increase its stake in INDEXO.
Representatives of the investment company ALPPES Capital also note that they are in favour of INDEXO’s plans to propose a share swap between INDEXO and DelfinGroup. ALPPES Capital currently holds 18.23% of DelfinGroup shares. The investment company intends to accept INDEXO’s offer by swapping all of its DelfinGroup shares into INDEXO shares, thereby potentially further increasing its stake in INDEXO. ALPPES Capital is confident that the share swap will deliver the strongest long-term value creation for both INDEXO shareholders and all existing DelfinGroup shareholders.
The investment in INDEXO is a long-term financial investment by ALPPES Capital, demonstrating confidence in the current INDEXO management team and the company’s development vision. ALPPES Capital also plans to participate in future INDEXO capital-raising rounds with the aim of ensuring that INDEXO’s capital and profitability reach an optimal and sustainable level, which would allow for the successful development and expansion of existing services as well as the creation of new ones.
As reported previously, the Bank of Latvia has granted permission for ALPPES Capital to acquire a direct qualifying holding and for Aigars Kesenfelds to acquire an indirect qualifying holding in IPAS INDEXO. Meanwhile, the European Central Bank approved Aigars Kesenfelds and ALPPES Capital to acquire an indirect qualifying holding in INDEXO Bank.