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* NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA OR JAPAN.
Press release
November 21, 2005
AS Tallink Grupp launches an initial public offering
Today AS Tallink Grupp launches an initial public offering of shares for retail investors in Estonia and Finland and a private placement for international institutional investors.
Up to 34,090,909 ordinary shares of AS Tallink Grupp are being offered to retail investors in Estonia and Finland and to institutional investors in and outside of Estonia and Finland. The shares offered include 26,500,000 new shares to be issued by AS Tallink Grupp and up to 7,590.909 existing shares to be sold by certain existing shareholders. In addition, the underwriters have been granted an over-allotment option equal to 10% of the offer size, representing up to 3,409,091 existing shares.
The offer period commences on November 21, 2005 and ends on December 1, 2005. AS Tallink Grupp expects to announce the offer price and the results of the offering on December 2, 2005 through the Tallinn Stock Exchange.
Tallinn Stock Exchange has decided to list the shares conditionally on the main list of the Tallinn Stock Exchange. Trading of the shares on the main list of the Tallinn Stock Exchange is expected to commence on or about December 9, 2005.
The preliminary offer price range is EEK 73.50 (EUR 4.70) to EEK 92.00 (EUR 5.88) per share. The final offer price will be decided by the supervisory council of AS Tallink Grupp after the completion of the bookbuilding process directed at institutional investors. The offer price will be the same for all investors.
Citigroup Global Markets Limited is acting as sole bookrunner and global coordinator of the offering. Nordea Bank Finland Plc, AS Suprema Securities and SEB Eesti Ühispank are acting as co-lead managers of the offering.
Tallink is a leading provider of high-quality mini-cruise and passenger transport services in the Northern Baltic Sea region as well as a leading provider of ro-ro cargo services on selected routes. Tallink owns and operates passenger ferries, including cruise ferries and high-speed ferries, and ro-ro cargo vessels on routes between Finland and Estonia and between Sweden and Estonia. Tallink’s current routes are between Helsinki and Tallinn, Stockholm and Tallinn; and between Kapellskär and Paldiski. Tallink is the current market leader on the Tallinn-Helsinki route and the only provider of daily passenger and ro-ro cargo traffic services on the routes between Sweden and Estonia.
Tallink transported more than 3.2 million passengers and approximately 130,000 ro-ro cargo units during the last financial year ended August 31, 2005. In May 2004, Tallink broadened the company’s product offering through the introduction of a 350-room Hotell Tallink situated in the principal tourist area of Tallinn. The ongoing investment and fleet renewal program is set to continue with the delivery of the new cruise ferry, scheduled for the spring of 2006, and the introduction of the two recently ordered high-speed ro-pax ferries, scheduled for delivery in 2007 and 2008.
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More detailed information about this offering is available in the English language offering memorandum from the web site of Estonian Financial Supervision Authority (EFSA) www.fi.ee. Retail investors can obtain a paper copy of the English language offering memorandum and Estonian or Finnish language summary of the offering memorandum in Estonia from SEB Eesti Ühispank’s offices and in Finland from the Nordea Bank Finland Plc asset management branches, Nordea Private Banking and Nordea Customer Service.
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For additional info contact:
Janek Stalmeister
Financial Director
AS Tallink Grupp
Tel: +372 6409 800
Jeremy Hughes
Public Relations Officer
Citigroup Global Markets Limited
Tel: +44 20 7986 5607
E-mail: jeremy.hughes@citigroup.com
* THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA. THESE MATERIALS ARE NOT AN OFFER FOR SALE OF SECURITIES. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. ANY PUBLIC OFFERING OF SECURITIES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE ISSUER OR SELLING SECURITY HOLDER AND THAT WILL CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS. THERE IS NO INTENTION TO REGISTER ANY PORTION OF THE OFFERING IN THE UNITED STATES OF AMERICA OR TO CONDUCT A PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES OF AMERICA.
* THE INFORMATION CONTAINED HEREIN SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION, EXEMPTION FROM REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
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