One of this year’s largest IPOs in Scandinavia is completed

On December 14, the initial public offering of shares of one largest Estonian investment holding companies – Aktsiaselts Infortar – was completed and the Infortar’s shares started trading in the Main List of the Tallinn Stock Exchange.

In addition to being the largest IPO in the Baltics in the past two years, this IPO is also one of the largest capital market transactions in the whole Scandinavian regioon.  COBALT advised AS LHV Pank and Swedbank AS, who acted as arrangers to the initial public offering of Infortar’s shares.

It’s encouraging to note that despite rather unfavourable market and economic conditions the base size of Infortar’s initial public offering was oversubscribed and all the participating investors received the desired amount of shares. Altogether more than 5500 investors participated in the initial public offering, and the final price per share was set at €26.

It has been an absolute pleasure for COBALT to advise the arrangers of the offering, LHV and Swedbank, throughout this long and at times challenging, but extremely interesting and successfully culminating process.

The clients were advised by Marina Kotkas and Christine Mägi.