Estonia, EU – Baltic States, Financial Services, Port, Transport
International Internet Magazine. Baltic States news & analytics
Saturday, 11.05.2024, 05:27
Advising of Tallinn Port IPO to cost less than EUR 1 mln
The Port of Tallinn in an international procurement chose the independent
financial adviser in the initial public offering (IPO). The joint offer of the
U.K. company STJ Advisors and
Estonia-based Superia Corporate Finance
was chosen from among four offers, which pre-qualified to participate in the
tender, the Port of Tallinn said.
Port of Tallinn CFO Marko Raid
said that making the decision was difficult as all submitted offers were very
strong and involved both Estonian and international experts. What spoke in
favor of the winner was the best price. The price was between half a million
euros and one million euros, Raid told BNS.
The role of the financial adviser will be independent counseling of the
issuer and oversight of the entire IPO process, as well as helping the
management board, the supervisory board and the owner of the issuer in the IPO
process.
The Estonian government has decided to float up to 30 percent of the shares
in the state owned company Port of Tallinn and list the shares on Nasdaq
Tallinn by the end of the first half of 2018 at the latest.