The Riga City Council has prepared a draft resolution proposing the sale of the municipality-owned company Rīgas namu pārvaldnieks (RNP).
To enable the sale of the company’s shares through a public securities offering, RNP is expected to undergo reorganisation and be converted into a joint-stock company.
The initial plan is to sell a controlling stake by offering 51% of RNP’s shares to the public and listing the majority stake on the Baltic regulated securities market, with trading to begin on the Baltic Official List. After the sale of the majority stake, the remaining shares would also be offered for sale.
In order to ensure broad participation from investors and the general public,
the public offering would include private investors and designated investor groups,
who would have the opportunity to acquire up to 15% of the company’s shares.
The municipality intends to fully withdraw from RNP — ending its decisive influence over the company no later than the end of 2027 and completing its full exit by the end of 2028.
RNP, a property management company, is currently wholly owned by the Riga City Council. In 2024, its turnover amounted to 80.569 million euros — an increase of 8.55% compared with 2023 — and the company posted a profit of 9 million euros. RNP employs approximately 2,000 people and manages around 3,500 buildings.
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