Estonia, Financial Services, Markets and Companies

According to the business reports of 2008, the top position in the list belongs to Eesti Energia with market value of 17.4 bln kroons. The second position belonged to Swedbank and third to Eesti Telekom with 15.2 bln and 8.4 bln kroons market value respectively. A year earlier, Swedbank was the leader with market value of 71.7 bln kroons.

While in earlier years, two thirds of the 100 biggest companies were under foreign capital control, this year Estonian capital owns a half of the top list companies and 49% of the total value of the biggest companies.

"The GILD100 top list indicates that the biggest and most successful entrepreneur is the republic of Estonia. The top list includes nine companies where the Estonian state is an owner or a shareholder with a controlling stake," said GILD Bankers’ lead partner Rain Tamm. "The share of total value of companies controlled by the state in GILD100 has increased in a year from 11.5% to 19.5%," he added.

The fourth position in the top list belonged to Tele2 Eesti AS with 4.668 bln kroons, followed by BLRT Grupp AS (4.554 bln kroons), Tallink Grupp AS (4.006 bln), SEB Pank AS (3.964 bln), Elisa Eesti AS (3.469 bln), Tallinna Sadam AS (3.424 bln) and Tallinna Vesi AS (2.813 bln kroons).