Riga City Council Wants to Sell 'Rīgas namu pārvaldnieks' 0 295

To facilitate the sale of the company's shares through a public offering of securities, it is planned to reorganize RNP by transforming it into a joint-stock company.

Initially, it is planned to sell a controlling stake in RNP by offering 51% of the company's shares in a public offering and including this stake in the regulated securities market of the Baltics, starting trading on the official Baltic list.

After the sale of the controlling stake, it is planned to sell the remaining equity shares.

To ensure broad participation from investors and the public, it is expected that the public offering will also be addressed to private investors and individual depositors, who will be offered the opportunity to purchase up to 15% of the company's shares.

It is anticipated that the participation of the Riga municipality in RNP will cease: the decisive influence of the municipality will end no later than the end of 2027, and complete cessation of participation is expected by the end of 2028.

Currently, the property management company RNP is fully owned by the Riga City Council. Its turnover in 2024 amounted to 80.569 million euros, which is an increase of 8.55% compared to 2023, and the profit was nine million euros. RNP employs about 2000 people and manages approximately 3500 buildings.