Coop Pank submits application to list on Tallinn Stock Exchange
Coop Pank AS submitted an application to the Nasdaq Tallinn Stock Exchange (TSE) on Friday for the listing of its shares on the Baltic Main List.
The decisions of the TSE's Listing Committee and Surveillance Committee made during the procedure will be announced separately, the stock exchange said.
Coop Pank board chairman Margus Rink told ERR on Tuesday that the bank is currently preparing for listing, and that thus far, the process has remained on schedule.
"We are working to ensure that Coop Pank's IPO on the TSE occurs within the next 50 days," Rink said. "It's not possible for us to say at the moment when exactly trading will begin, the cost of shares or the amount of shares to be issued; we'll publish the precise conditions when we announce the IPO."
The most recent Estonian bank to be listed was LHV, whose initial public offering (IPO) and listing occurred in May 2016. Inbank introduced its bonds on the stock exchange that October.
Coop Pank's biggest shareholders are domestic retail chain Coop Pank with 60.4 percent of shares, Andres Sonn with 19.9 percent of shares, and Inbank with 7.9 percent of shares. Inbank and Sonn intend to exit as shareholders in the course of the bank's IPO.
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Editor: Aili Vahtla
