Infortar owns more than 40% of the shares in Tallink Grupp. Photo by Martin Wagner (Imago Images/Scanpix).
Estonian investment group Infortar is launching a long-awaited IPO and then plans to list on the Tallinn Stock Exchange.
Infortar plans to sell up to 1.2 million shares in its initial public offering, which began on Tuesday. of the newly issued shares with the right to increase the offer to up to 1.8 million. Shares. In addition, Swedbank can sell up to 180,000 additional shares as a market stabilizer (over-allotment).
The price range for the shares offered is between 26 and 32 euros, so the volume of the IPO can be between 31.2 million euros, depending on the price and number of shares issued. Up to 63.4 million euros. EUR.
The final price of the IPO will be announced once the application documents from institutional investors are completed.
The retail investor part of the IPO will only take place in Estonia, the new issuer will be available to Lithuanian investors from its debut on the stock exchange.
After the IPO, Infortar shares will be listed on the Tallinn Stock Exchange. The future IPO of the Estonian Investment Group has been talked about for a long time.
Infortart is best known to a wider audience as the largest shareholder in the ferry operator Tallink Grupp with 40%, as well as an investment group active in the real estate sector that controls more than 100,000 square meters of commercial real estate in the energy sector in the Baltic States, Finland and Poland. The company is owned by Eesti Gaas.
“We are opening up our portfolio and want to expand our success with new investors. With a focus on energy, maritime transport and real estate, our portfolio is diversified, international, crisis-tested and has strong growth potential. According to our vision, Infortar aims to increase the productivity of its companies – Eesti Gaas has become the largest private energy company in Finland and the Baltics, Tallink has become the largest sea transport company in the Baltic Sea and in reality In the real estate sector we have one of the largest real estate portfolio in the region. “We are long-term experienced investors and want to offer new investors dividend security,” Ain Hanschmidt, CEO of Infortar, was quoted as saying in the announcement of the IPO.
At the end of the third quarter of this year, Infortar had assets worth 1.43 billion. The equity amounted to 771 million euros. EUR.
In the nine months of this year, Infortar’s sales increased by 22% to 747 million euros compared to the same period last year. The EBITDA profit fell by 3.8% to EUR 106 million. EUR.
Infortar has a diversified portfolio, a strong balance sheet and low leverage. Our cash flow is secure and allows us to pay dividends. We set the offer amount according to the needs of the company and the price range according to the attractiveness of the company in the eyes of investors. The growth is due to international expansion and investments, which have reached a quarter of a billion euros in recent years,” says Martti Talgre, CEO of Infortar.
The IPO will take place by December 7th, shares will be distributed to investors on December 11th and the stock market debut day is scheduled for December 14th. or a day close to this date.
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