The city authorities, however, promise to "not rush" - the Riga city council will "free itself" from RNP by the end of 2028.
So, the process has begun: today, Riga's vice-mayor Edvards Ratnieks (National Alliance) announced at a press briefing that the ruling coalition in the capital's city council has agreed to move forward with the revised project to list shares of the largest municipal enterprise in the Baltics, "Rigas namu parvaldnieks," on the stock exchange. According to the vice-mayor, the city council will first make a decision to start preparing for the company's stock listing, which will transform from a limited liability company into a joint-stock company. At the same time, it has been decided not to "scare" the residents of Riga, and the specific share (in percentage) that will go into private hands is not specified. First, a legal assessment will take place, and then consultants will prepare everything for the initial offering to potential shareholders, who, as Mayor Viesturs Kleinbergs assured this morning on LTV, could even include pensioners.
It is clear that in the foreseeable future, this joint-stock company will completely rid itself of municipal participation, meaning it will become a private company. This will happen after 2028, closer to the next elections for the Riga city council.
