Estonia, Financial Services, Legislation, Port, Transport
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Sunday, 06.07.2025, 08:07
Estonia makes amendments to transport development plan for Port of Tallinn IPO
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Amendments will be made to the part of the transport development plan that
concerns changing the state's single holding of Port of Tallinn to a majority
holding. The amendment is necessary for listing the Port of Tallinn so that the
state retains a majority holding.
The government in November gave its consent to the Ministry of Economic
Affairs and Communications to move forward with preparations for an IPO of
shares in the Port of Tallinn. The government also endorsed a plan for further
actions with a view to conducting the IPO, their basic principles and
timelines.
"The purpose of listing Port of Tallinn is to increase the company's
value and create investment opportunities for Estonian people and pension
funds," Prime Minister Juri Ratas
said then.
He said that also increasing the attractiveness of Estonia in the eyes of
foreign investors was very important for the government. "I believe that
the float of shares in Port of Tallinn will emerge as a very good opportunity
for our partners in Europe and in the Nordic countries in particular to invest
in Estonia," Ratas said.
The plan is for trading in Port of Tallinn shares to start on Nasdaq
Tallinn in the first half of next year. One-third of the shares of the company
will be floated, and the remainder kept by the government.
"The bigger the number of shareholders, the more it will motivate the
company to adopt even greater transparency and effectiveness, and in the end
the value of the company will grow," Minister of Economic Affairs and
Infrastructure Kadri Simson said in
November. "Port of Tallinn is a successful company, and listing will give
the people of Estonia an opportunity to share in this success," she said.
Simson pointed out that the IPO of Port of Tallinn will increase the
company's recognition, enable funds to invest more of people's pension money in
the domestic market, give a boost to activity on the stock exchange and to
Estonia's reputation as an investment environment.
Listing of Port of Tallinn has been agreed upon in the coalition agreement
of the governing parties. The company's aim is to list shares on the Tallinn
stock exchange at the latest by the end of the first half of 2018.
Port of Tallinn has chosen Baker
McKenzie and Cobalt as legal advisors of the company's IPO.
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