Subrscription to the Port of Tallinn shares has begun

25. May 2018

AS Tallinna Sadam (the Port of Tallinn) has published the IPO prospectus, according to which Estonian retail investors and Estonian and international institutional investors will be able to subscribe for shares in the company from May 25 to June 6, and the price range of the offer is from 1.40 to 1.80 euros per share, The indicative minimum allocation per Estonian retail investor is 1,000 shares.

Together with the prospectus the Port of Tallinn also filed an application for the listing and admission to trading of the company’s shares on the Nasdaq Tallinn Stock Exchange. Trading in the shares is expected to begin on June 13, 2018.

"We are positioning ourselves as a company with a good dividend payout capability from the viewpoint of Estonian retail investors as well as institutional investors, including through offering an opportunity to the managers of pension assets of the people of Estonia to invest in our economy," Tallinna Sadam CEO Valdo Kalm said. "The listing of the shares of Tallinna Sadam will definitely also invigorate the Tallinn stock exchange and the local capital market as a whole, bringing also new foreign investors here."

The offering framework includes the issue of 75,404,968 new ordinary shares by AS Tallinna Sadam, and an offering of up to 11,300,000 existing ordinary shares of Tallinna Sadam to be sold by the current sole shareholder of Tallinna Sadam, the Republic of Estonia,

The dividend policy of Tallinna Sadam endorsed by the Republic of Estonia as the sole shareholder in April this year says that the company aims to pay shareholders at least 30 million euros in net dividend a year in 2019–2020, and at least 70 percent of the net profit of the previous year from 2021 onwards.

Estonian residents participating in the retail offering must place their subscription applications with the price equal to the upper end of the offer price range, at 1.80 euros per one share. The indicative minimum allocation for each Estonian retail investor is 1,000 shares. The final price of shares and subscription results are expected to be announced on or about June 7.

The Prospectus and its supplement(s) and the translations of the summary of the Prospectus into Estonian and Russian can be downloaded on the website investor.ts.ee.

This news text is not for release, directly or indirectly, in the United States of America (including its Territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, the Hong Kong special administrative region of the People’s Republic of China, Japan, South Africa, or any other jurisdiction where to do So would be unlawful.

The notice is for information purposes and must not be treated as an offer of securities, investment advice or an obligation to enter into any contracts. Before making a decision, please examine the materials concerning the investment as well as potential risks carefully; if necessary, seek advice from an expert. The prospectus, its supplement and summary of the offer have been made available on the company’s website investor.ts.ee and on FSA website www.fi.ee.

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