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* NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA OR JAPAN.
AS Tallink Grupp announced the results of its IPO
Press release
December 2, 2005
Today AS Tallink Grupp announced the final offer price and allocation in the initial public offering of its shares.
The offer period in the initial public offering of ordinary shares of aktsiaselts Tallink Grupp ended on December 1, 2005.
In the offering, a total of 31,574,545 shares of Tallink are being sold and issued to Estonian, Finnish and international institutional investors and to the public in Estonia and Finland of which 26,500,000 are new shares to be issued by Tallink and 5,074,545 are shares to be sold by certain existing shareholders of Tallink. The selling shareholders have granted the managers of the offering an option to purchase up to an aggregate of 3,157,455 additional shares solely to cover over-allotments.
The Supervisory Council of Tallink fixed the offer price at EEK 82.50 (EUR 5.2727) per share.
The total demand in the retail offering was 15,307,074 shares, which was approximately 3 times larger than the total amount of shares allocated in the retail offering.
A total of 5,209,800 shares were allocated in the retail offering, representing 15% of the overall offering.
The guaranteed individual allocation in the retail offering was set at 284 shares, corresponding to EEK 23,430 (approximately EUR 1,497.45) when multiplied by the offer price. A total of 3,770,099 shares (i.e. approximately 72,4% of all shares allocated in the retail offering) were allocated in the retail offering as a result of the guaranteed allocation.
Subscription undertakings up to and including 568 shares were allocated 284 shares plus 25 % of the amount exceeding 284 shares. Subscription undertakings exceeding 568 shares were allocated 284 shares plus 25 % of the amount between 285 and 568 shares plus 5.75 % of the amount exceeding 568 shares.
The shares allocated in the retail offering will be transferred to the securities accounts of investors in Estonia on or about December 8, 2005. The shares allocated in the retail offering will be transferred to the book-entry accounts or custody accounts of investors in Finland on or about December 8, 2005.
Trading in the shares is expected to commence on the Tallinn Stock Exchange on or about December 9, 2005.
Enn Pant, Chairman and CEO of AS Tallink Grupp, today said: “We are delighted to have completed this IPO successfully. The results of the initial public offering show that investors value our success in the highly competitive Baltic Sea shipping market over the past decade. We aim to continue our strategy of profitable growth and develop our business as a publicly listed company.“
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 Galaxy, 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.
For additional info contact:
Peter Roose
Head of Investor Relations
AS Tallink Grupp
Tel: +372 6409 800
E-mail: peter.roose@tallink.ee
Jeremy Hughes
Public Relations Officer
Citigroup Global Markets Limited
Tel: +44 20 7986 5607
E-mail: jeremy.hughes@citigroup.com
Henrik Igasta
Head of Corporate Finance
AS Suprema Securities
Tel: 6405 716
E-mail: Henrik.Igasta@suprema.com
Petri Siponen
Head of Nordea Corporate Finance, Finland
Tel: +358 9 4785 0331
E-mail: petri.siponen@nordea.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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