Estonia, Financial Services, Investments, Port, Transport

During the first seven minutes 250 transactions in Tallinna Sadam shares were concluded with a turnover in excess of one million euros. Compared with the IPO price of 1.70 euros, the share traded between 2 and 2.1 euros in the first minutes of the session, representing an increase of almost 20%.

The 86.7 million shares in AS Tallinna Sadam put on offer in the initial public offering (IPO) were oversubscribed threefold and the price of the share was set at 1.7 euros, which means that the total value of the IPO was 147.4 million euros.

The offer shares included up to 75.4 million new shares and up to 11.3 million existing shares. The IPO price range was from 1.4 to 1.8 euros and offers were made by 102 institutional investors from 22 countries and by 13,723 retail investors.

Tallinna Sadam published the issue prospectus and filed an application with Nasdaq Tallinn for the listing of the shares on May 25.

The Listing and Surveillance Committee of Nasdaq Tallinn cleared the shares for listing on Nasdaq Tallinn and set the starting date of trading in the shares at Wednesday, June 13.

After the offering, the Republic of Estonia is the biggest shareholder of Tallinna Sadam with a holding of 67%.