Port of Tallinn is preparing for the IPO

As the first step, Port of Tallinn organized an international public procurement to select an independent financial adviser for the IPO process. A joint offer by UK’s company STJ Advisors and Estonian-based Superia Corporate Finance won the procurement.

The role of the financial adviser will be independent advising of the issuer as well as the supervision of the entire IPO process and helping the Management Board, Supervisory Board and the owner of the issuer in the IPO process.

In cooperation with the financial adviser an international competition for finding a legal adviser for the issuer was organized. A joint offer of the internationally recognized Baker McKenzie and Estonian-based COBALT won the competition. 

The role of the legal adviser will be to assist the issuer in all legal aspects of the IPO process, including the organisation of the preparation of the issue prospectus and giving the legal confirmations related to the issue.

Currently Port of Tallinn prepares for the submission of the detailed action plan and schedule of the IPO to the Government for their consent and is in process of selecting the syndicate of banks that will carry out the IPO.

The public quotation of up to 30% of the shares of the Port of Tallinn was agreed in the coalition agreement of the Government. The company’s goal is to list the shares on the Nasdaq Tallinn Stock Exchange by the end of the first half of 2018. This is an important and positive process for the Port of Tallinn, which allows it to focus even more on its areas of business and improve the international reputation of the company and Estonia alike.

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