Darius Mikalcius, director of Frigate Pay, a company recently registered in Lithuania, told that the Lithuanian company intends to advise clients on issues of payment and intermediation in providing banking services.
"The holding company is headquartered in Latvia. The company has units in Switzerland, Luxembourg and Singapore and there are plans to set up such a unit in Lithuania, too," Mikalcius said.
"We plan to expand investment activities here (in Lithuania), but we'll be able to give more details in two to three weeks' time," he added.
According to the director, the Lithuanian unit we start with a staff of three to five people and may increase that number at a later stage.
Shares in Latvia's Frigate in mid-July debuted on the Nasdaq Baltic First North alternative market.
Pavel Dushin, chairman of the supervisory board at Frigate, holds 48.11% of shares in the company. Other shareholders include Aleksandr Letovaltsev and Aleksandr Yarygin with 15.45% each, and Armands Buss with 5.54%.
