COBALT, in co-operation with leading international law firm Baker McKenzie, has been chosen as legal advisor to the Port of Tallinn's initial public offering (IPO).
According to Marko Raid, CFO and a board member of the Port of Tallinn, the joint offer of COBALT and Baker McKenzie won the competition due to their international experience and COBALT's knowledge of the local market. Both law firms have prior consultation experience with capital market transactions in general as well as with IPOs. Altogether, eight offers were submitted.
Our role will be to advise the Port of Tallinn in all aspects related to the IPO, including preparation of corresponding documentation plus a prospectus.
The Estonian government has decided to float up to 30% of the shares in the state-owned Port of Tallinn and list the shares on Nasdaq Tallinn by the end of the first half of 2018 at the latest.
The Port of Tallinn is the biggest port authority in Estonia and in terms of both cargo and passenger traffic the biggest port on the shores of the Baltic Sea.
Please see the official press release (in Estonian) from here.