COBALT advises secondary public offering of Ekspress Group

Partner Priit Pahapill and counsel Indrek Minka advised the secondary public offering of NASDAQ OMX Tallinn listed Ekspress Group shares.

During the period between 16 April to 3 May 2010 a total of 8,948,000 shares were subscribed in the amount of EUR 7.2 mio. As a result of the offering, the oversubscription of shares amounted to 1.35 times availability, thus easily achieving the company’s goal of increasing its share capital. Some 58 per cent of shares were allocated to investors holding priority subscription rights, with those remaining allocated to new investors.

Ekspress Group is a media company operating in the Baltic region and controls the largest market share in the industry. COBALT was assigned to prepare the corresponding documentation, including the offering and listing prospectus.

In 2007, we assisted Ekspress Group in carrying out an initial public offering of company shares (IPO).