Estonia: Port of Tallinn has shown strong financial results

Estonia: Port of Tallinn has shown strong financial results
Port of Tallinn

Port of Tallinn is the biggest port authority in Estonia

The activities of Port of Tallinn are divided mainly between the following areas: cargo and activities related to handling it, passengers and activities related to serving them, real estate development, and shipping.

Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.

Historically the Baltic Sea region has acted as major transport corridor both in itself and for the rest of the world.

With its location on the east coast of the Baltic Sea and because of its long and prosperous history Tallinn has become one of the major tourist attractions in the area.

Port of Tallinn consists of five constituent harbours (Old City Marina in addition, being a part of Old City Harbour):

Old City Harbour (+ Old City Marina)

  • Muuga Harbour
  • Paldiski South Harbour
  • Paljassaare Harbour
  • Saaremaa Harbour

Port of Tallinn also owns Muuga and Paldiski South Harbour Industrial Parks.

Port of Tallinn has shown strong financial results

The listing of the shares of Port of Tallinn follows the company’s initial public offering to retail investors in Estonia and to institutional investors globally from May 25 to June 6.

The total gross proceeds of the offering were EUR 147.4 million. In total, 13,723 Estonian retail investors and 102 institutional investors from 22 countries participated in the offering. The IPO was oversubscribed by more than three times.

The sole owner of the company before the offering was the Republic of Estonia. After the offering, the Republic of Estonia will remain the major shareholder in the company by owning 67% of the shares.

Port of Tallinn’s listing is the first state-owned company listing in Estonia in almost 20 years. The results of the offering clearly show that this was an event much awaited by the investors: It was the second largest IPO in terms of retail investor participation in Estonia, said Kaarel Ots, CEO of Nasdaq Tallinn stock exchange. By listing a company like Port of Tallinn, the Estonian government is achieving several major goals: providing both local retail investors, local pension funds and also international institutional investors an opportunity to invest and at the same time creating all preconditions for the company to become much more transparent and even more efficiently governed.


Port of Tallinn has shown strong financial results and been a high dividend-paying company throughout its history, and this definitely helped to increase the investors’ confidence in our company during the offering, said Valdo Kalm, the Chairman of the Management Board of Port of Tallinn. Raising equity capital and having new shareholders will sharpen our focus on the business and make the company stronger. We have to guarantee that all the material information will be disclosed to all investors at the same time and all investors would be treated equally with the major shareholder – the Republic of Estonia.


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