Latvia’s Riga city council plans to sell the municipal housing company, Rigas Namu Parvaldnieks (RNP), LETA reports. Under the proposal, RNP would be reorganised and converted into a joint-stock company before the sale through a public securities offering. The plan is first to sell 51% of RNP’s shares. Individual investors would be a able to buy up to 15% of the company’s shares. The city council plans to relinquish its majority ownership of RNP by the end of 2027 and exit the company fully by the end of 2028. Currently, RNP is fully owned by the Riga city council. The company manages around 3,500 buildings and employs some 2,000 people.
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