This year, as of Thursday, there had been slightly under a million transactions on the Tallinn Stock Exchange (OMXT), a five percent increase from the previous year. The turnover rate fell by a quarter.
A few days before the end of the year, the Tallinn Stock Exchange (OMXT) had recorded a total of 950,000 transactions worth €390 million. In terms of turnover, the second half of the year was even leaner than the first, with €260 million exchanged in the first six months and €130 million in the second.
Last year, the Tallinn Stock Exchange saw a record 900,000 transactions, with a turnover of just under half a billion euros.
OMX Tallinn (OMXTGI) index, which was ranked second in the world last year with a growth rate of 49 percent, fell by 12 percent over the last year, Kaarel Ots, head of the Tallinn Stock Exchange, said. However, the index is still up 30 percent over the past two years, he added.
"In general, stock markets can effectively cope with both both good and bad news, but it is more difficult to deal with uncertainty - there was a lot of that last year and the Tallinn Stock Exchange was unable to escape a certain degree of anxiety, but we can still be pleased with the year," he said.
As anticipated, the two companies with the biggest market values, Enefit Green and LHV, generated the most annual revenue, with €115 million and €82 million euros, respectively. Coop Bank came in second with €32 million.
This year, there have been six initial public offers (IPOs) on the Tallinn Stock Exchange, which Ots deems exceptionally rewarding given that it beats many Scandinavian countries.
"Before being added to the list of funds available on the primary market, the EfTEN United Property Fund successfully completed a public offering. In addition, Coop Bank secured €10 million in bonds and electric scooter producer Tuul Mobility raised three million at the Baltic First North Market," Ots said.
LHV Group and Coop Bank raised a total of €55 million in new capital on the primary market, with investor demand in both cases greatly exceeding supply, Ots emphasized. In addition, another three First North companies collectively raised €5 million through the sale of shares.
Ots does not see the current economic situation negatively.
"It is important to remember that the best times for investors to buy are typically when the general mood is at its lowest and the news is at its darkest. Through a corporate viewpoint, I am certain that there is no right or wrong moment to raise money from the stock market - again, this is supported by a number of recent success stories - it's all about price and the intersection of narrative and numbers. The stock market has been, continues to be, and will continue to be the most transparent venue for investors to participate in these businesses," he said.
There were 103,000 investors on the Tallinn Stock Exchange at the end of the year.
Editor: Kristina Kersa