Estonia approves Port of Tallinn IPO
The IPO (initial public offering) of the state-owned Port of Tallinn has been given the go ahead by the Estonian Government. Tank News International first released details of the plan in June.
In a press release the authority said trading of the port’s shares on the Nasdaq Tallinn Stock Exchange will be begin during the first half of 2018. A third of the shares of the company will be traded publicly and a controlling holding will be retained by the state, said the Estonian government in a press release.
Estonian Prime Minister, Juri Ratas said: “The purpose of the stock exchange launch of Tallinna Sadam is to grow the value of the company and to create investment opportunities for the Estonian public and the pension funds.”
He said increasing Estonia’s attractiveness to foreign investors is important to the Estonian Government: “The shares of Tallinna Sadam will be a great opportunity for our partners in Europe and the Nordic countries in particular to invest into Estonia”.
Estonian Minister of Economic Affairs and Infrastructure, Kadri Simson said: “The more shareholders there is, the more it motivates the company to even greater transparency and efficiency, therefore growing the company value.”
For more information visit www.portoftallinn.com
20th Nov 2017
