|
AS Tallink Grupp, Stock Exchange Release
31.08.2006
Nearly 3500 investors subscribed to new Tallink shares
As of today, nearly 27 million newly issued shares of AS Tallink Grupp are listed on the main list of the Tallinn Stock Exchange and subject to trading.
The share offering was carried out by Hansapank. According to the head of Equities of Hansabank Markets, Mr Lauri Lind, 3436 investors subscribed to the new shares. Approximately 3400 of them were retail-investors. By volume, however, the majority of shares (95%) were subscribed by institutional investors, who subscribed close to the allowed maximum levels.
AS Tallink Grupp carried out the second largest share offering in recent years in Estonia to strengthen the development of the company, its financial position and help support the recent investments of the Superfast ferries and Silja Line. During the management presentation, the company visited existing and potential new investors in Helsinki, Stockholm, London and Vienna. "The feedback from institutional investors was positive, with a successful share issue to prove it," said Lind.
95,2% of the share issue were subscribed, as only existing shareholders and persons who acquired publicly traded subscription rights were entitled to take part in the issue. The subscription price was EEK 55 (EUR 3.5). Altogether, shareholders invested an additional EEK 1.48 billion (EUR 94.7 million) into the company. The main shareholders of AS Tallink Grupp, Citigroup Venture Capital International, funds managed by Danske Capital Finland and Firebird Management and AS Infortar fulfilled their earlier declaration to subscribe at least 60% of the issue.
Mr Andres Hunt, Member of the Board of AS Tallink Grupp said the company is pleased with the results. "We thank all shareholders for their trust. It is important for us that investors share the vision that the management has for the company, and are not looking for short-term speculative gains, but rather believe in the growth of Tallink's worth in light of the large investments made during the past year," said Hunt.
Starting today, new shares are traded on the Tallinn Stock Exchange under the shorthand TAL3T until the increase of the share capital has been registered in the commercial register. Thereafter the new shares will carry the shorthand TAL2T. Essentially, the main shares (TAL1T) and later issued TAL2T and presently also TAL3T are securities equal in value, the only difference being the right to dividends for the financial year 2005/2006 ending today, should the company decide to pay dividends. The management of Tallink Grupp presently does not plan to propose paying dividends for the 2005/2006 financial year to the shareholders.
AS Tallink Grupp is a dynamic and fast-growing international shipping company, operating in the Baltic Sea region and offering mini-cruises, passenger travel, cargo transport and associated services. The company employs more than 6000 people. Shares of AS Tallink Grupp are listed on the Tallinn Stock Exchange.
Additional information:
Janek Stalmeister
Financial Director
AS Tallink Grupp
Tel: +372 6409 800
janek.stalmeister@tallink.ee
Lauri Lind
Head of Equities of Hansabank Markets
+372 6 131 355
lauri.lind@hansa.ee |