You are here

Initial public offering on the shares of the Port of Tallinn was more successful than expected

11. October 2018 - 13:56

Stenbock House – 11 October 2018

At today’s cabinet meeting, Kadri Simson, Minister of Economic Affairs and Infrastructure, gave an overview of listing the shares of the Port of Tallinn on the Tallinn stock exchange.

“The goal of listing the shares of the Port of Tallinn on the stock exchange was to offer Estonian people and pension funds an opportunity to invest in the development of a successful enterprise and be a part of their success story. The government has also explicitly expressed their aim of increasing the efficiency and transparency of public enterprises. Almost 14,000 retail investors subscribed for the shares, and I think the result is pleasing,” Prime Minister Jüri Ratas said.

Kadri Simson, Minister of Economic Affairs and Infrastructure, added that the IPO of the Port’s shares vivified the trading on the Nasdaq Tallinn Stock Exchange and attracted many new small investors to Estonian economic affairs. “If we take a look at the period from when the initial public offering began to today, we can see that the shares of the Port of Tallinn comprised 21% of the total demand of the Nasdaq Baltic main list. The monetary amount was 38%,” Simson said while adding that the goal is thus completed.

The stock exchange period was a success for the enterprise. In three months – from 13 June to 5 October – the market value of the Port increased from 507.1 million euros to 568.08 million euros, making it the fourth largest enterprise on the Baltic market. The share price increased by 12% during the same period.

The number of stock holders has also remained stable. Estonian private investors have increased their holding and the proportion of investment and pension funds remained stable at the same level as after the IPO.

A decision was made at the cabinet meeting to approve the report on the results and related costs of the public offer on the shares of AS Tallinna Sadam (the Port of Tallinn).

Veel uudiseid samal teemal

13.06.2019|Government

Prime Minister received authorisation to sign the roadmap for synchronising power networks

Stenbock House, 13 June 2019 – On Thursday, the government authorised Prime Minister Jüri Ratas to sign the synchronisation roadmap at the meeting of the heads of government of the Baltic Republics and Poland and the European Commission President, taking place at the meeting of the European Council, in June.

28.05.2019|Government

The Government reached an agreement in principle regarding the state’s budget strategy

Stenbock House, 27 May 2019 – At today’s Cabinet Meeting of the Government of the Republic the government reached an agreement in principle on the state budget strategy for 2020–2023 and the draft state budget for 2020. The budget strategy and the draft budget for next year are included in the agenda for this Thursday’s Session of the Government of the Republic.