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Infortar shares available for subscription from Tuesday

Infortar.
Infortar. Source: Ken Mürk/ERR

The initial public offering (IPO) of shares in AS Infortar begins on Tuesday, with shares offered at a price range of €26 — 32 per share. Infortar's shares are expected to be traded on the Tallinn Stock Exchange for the first time on December 14.

All natural and legal persons in Estonia will be able to subscribe for the shares from this Tuesday, November 28, until next Thursday, December 7, the company said.

The Estonian Financial Supervision Authority (FSA) has approved the prospectus for the initial public offering of Infortar's shares. The company has also applied to the Tallinn Stock Exchange for its shares to be listed and traded on the Baltic Main List.

The number of shares to be issued in the offering ranges from 1,200,000 to 1,980,000. The price range of the offer is €26 — 32 per share. The total financial volume of the offer is therefore between €31.2 million and €63.4 million.

The announcement of the price, results and distribution of the initial public offer of shares in AS Infortar will happen on or around, December 11.

On November 20, Infortar, which is active in the energy, shipping and real estate sectors, announced its intention to launch a public offer of shares and apply for a listing on the Tallinn Stock Exchange.

Infortar has been active for over 25 years and the group has 48 subsidiaries. The group is focused on three main business areas: energy, maritime shipping and real estate, and also has investments in spheres that support its core businesses.

The group's investment plan for the coming years includes projects with a total value of up to €110 million. Most prominent among them are the construction of an office and warehouse building for supermarket chain Rimi, along with the expansion of the Tallink Duty Free logistics center. Infortar is also planning the construction of a commercial building on the grounds of the Tallink tennis center, and the Hiiu health center. On top of that, the company plans to construct a series of solar power plants in Latvia and Estonia with the capacity to produce 40 megawatts (MW) of solar energy.

In 2022, Infortar's consolidated revenues were €1.05 billion with a profit of €96 million.

In 2023, the company has paid out approximately €16 million in dividends. Up to now, Infortar has issued 19,845,000 shares.

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Editor: Michael Cole

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