Estonian energy, shipping and real estate group Infortar announces IPO

Infortar on Monday unveiled plans for an IPO and to be listed on the Tallinn exchange.

Infortar is planning an initial public offering of its ordinary shares and is looking to be listed on the Nasdaq Tallinn Baltic Main List.

With the offering, Infortar aims to provide investors an opportunity to invest in one of the biggest investment holding companies in the Baltics whose portfolio is comprised of companies active in energy, shipping, real estate, and other fields, the company said in a press release. Infortar has been active for over 25 years and comprises of 48 subsidiaries. 

CEO Ain Hanschmidt said that Infortar has become one of the largest companies in Estonia with a turnover of €1 billion for which becoming listed and going public constitutes the next logical step. "Expanding the investor base and joining the stock exchange gives us an opportunity to grow even faster internationally, increase our asset value and find additional financing opportunities. For investors this means having access to a diverse and international, inflation and crises tested portfolio offering both real assets and growth potential."

The offering is arranged by AS LHV Pank and Swedbank AS, with the former serving as the settlement agent.

The group's investment plan for the coming years includes projects worth a total of €110 million, chief among which are the Rimi office and warehouse building, expanding the Tallink Duty Free logistics center, DIY store at the Tallink Tennis Center premises, Hiiu Health Center and over 40 MW of panel capacity solar parks in Estonia and Latvia.

Infortar reported a consolidated turnover of €1.05 billion and profit of €96 million for 2022.

The company has paid around €16 million in dividends in 2023. Infortar has issued 19,845,000 shares so far.

Infortar's shipping business Tallink Grupp AS is already listed on the exchange.


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Editor: Karin Koppel, Marcus Turovski

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