The public offering of AS Tallinna Sadam shares will begin on 25 May

8. May 2018

AS Tallinna Sadam has announced its intention to proceed with an initial public offering and a listing of its Shares on the Baltic Main List of the Nasdaq Tallinn Stock Exchange.

It is intended to offer retail investors in Estonia and institutional investors both in Estonia and abroad about a third of the companies shares.

AS Tallinna Sadam intends to offer up to 75,404,968 new Shares and the government shareholder intends to offer up to 11,300,000 Existing Shares.

The Offering period is expected to last from 25 May to 6 June 2018. AS Tallinna Sadam plans to announce the public offering on 25 May with a public announcement. With the announcement also the prospectus registered in EFSA will be disclosed.

The organizers of the institutional offer are Citigroup Global Markets Limited and Carnegie Investment Bank AB, Erste Group Bank AG and Swedbank AS. The retail offering will be organized by Swedbank and LHV.

“Port of Tallinn’s vision is to become the most innovative and modern port in the Baltic Sea Region with an emphasis on digitalisation, strong customer base and dedicated employees, with a business model structured around well-balanced core operational areas. Port of Tallinn has a track record of stable financial results and regular dividend distributions. In pursuing a listing on the Tallinn Stock Exchange, we are positioning ourselves as a high-quality dividend asset. Listing the Company on the Tallinn Stock Exchange will add a stamp of quality to our achievements and push us to seek further developments,” commented Valdo Kalm, CEO of AS Tallinna Sadam.

“Port of Tallinn has an important role of being a lighthouse in port services in Estonia, as well as operating as a gateway to Europe and beyond for both passengers and cargo. The Company has a professional management team and a great potential for future development,” said Aare Tark, Chairman of the Supervisory Council.

“The Government’s intention to list the shares of Port of Tallinn on Nasdaq Tallinn Stock Exchange primarily provides new investment opportunities in Estonia. This step is hoped to improve liquidity and attractiveness of the local capital market. The planned listing will also increase the efficiency and transparency of the Company even further and will provide an example for possible listings of other Estonian state-owned companies in the future,” commented Kadri Simson, Minister for Economics and Infrastructure.

This April the dividen policy of AS Tallinna Sadam was approved. According to that, during the period 2019-2020 the company intends to pay out annually at least 30 million € in post-tax regular dividend distributions and following that period, at least 70% of its preceding year’s net profit. The dividend policy excludes any one-off effects and is subject to market conditions, growth and development plans and the need to maintain a reasonable level of liquidity.

Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the prospectus and its supplements as approved by the Estonian Financial Supervision Authority and made available to the public in accordance with regulations.

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