Announcement on the sale through competitive bidding of the shares owned by the of “Iksov CJSC” – a PNB Banka group company


The insolvency process administrator of the insolvent AS PNB Banka, registration No 40003072918 (hereinafter – “the Bank”), Vigo Krastiņš and Iksov CJSC, registration No 286.120.05894 (hereinafter – “Iksov CJSC”), hereby announce the sale of Iksov CJSC company shares owned by the Bank. Company owned the real estate located in 40 Sayat-Nova ave, area 78/1 and 78/2 Kentron District, Yerevan, Armenia, (hereinafter – “the Real Estate”) in a voluntary competitive bidding.


The appraised value and starting price of the Iksov CJSC shares - EUR 1,279 316,55. Application deadline 26.08.2022, 05:00 PM.


To arrange for examination of the Real Estate and find out more information about it, please call + 374 95992636 on business days from 9:00 AM to 5:00 PM.

At the same time, we hereby inform that there are ongoing court cases with the participation of Iksov CJSC about which persons wishing to participate in the auction can be informed only after signing the relevant non-disclosure agreement.

Information on applying for the competitive bidding, the competitive bidding procedure, conditions for closing transactions and other relevant information is provided in the competitive bidding regulations available free of charge on the Bank’s website or Latio’s website For more information on competitive bidding regulations please call +371 29415520.

All persons willing to participate in the competitive bidding should complete the following:

- by 26.08.2022, 05:00 PM, attend an on-site identification at the Bank’s office, submit the application form filled out in compliance with the Regulations, as well as all other documents indicated therein;

- by 26.08.2022, 11:59 PM, transfer the participation fee of EUR 121, incl. VAT – EUR 21 and transfer the deposit of EUR 127 931.65, i.e. 10% of the starting price, to the Bank’s account No LV69BLIB1001005254003, in AS “Baltic International Bank”.

The application for participation in the competitive bidding and the documents attached thereto shall be submitted at the Bank’s office in Riga, 15-2 Elizabetes Street (Latvian: Elizabetes iela 15-2), on business days from 09:00 AM to 05:00 PM, or sent via e-mail to in the form of an electronic document duly signed with a secure electronic signature and containing a time stamp.