In the IPO, 5,517 retail investors from Estonia and professional investors from Europe participated. The total amount of subscriptions reached €41.4 million, which is 1.3 times more than the base amount of the offering of €31.2 million, the company announced.

The final price of Infortar's shares was confirmed at €26. The company decided to distribute a total of 1,360,000 offered shares, of which 160,000 shares will be distributed during the over-allotment option. The total amount of the offering at the final price amounted to €35.4 million. The expected first trading day of Infortar shares is December 14.

"Going public and the capital raised gives us additional momentum in international expansion. We acknowledge those who trusted us and our portfolio – all retail investors who subscribed to Infortar will receive the desired amount of shares at the lower end of the price range," said Ain Hanschmidt, chairman of the board of Infortar.

According to Infortar's IPO prospectus, individuals and legal entities in Estonia and professional investors in the European Economic Area member states and the United Kingdom were able to subscribe for shares from November 28 to December 7. Trading of Infortar shares on the Nasdaq Tallinn Stock Exchange's Baltic Main List will begin on December 14 or around that date.

Infortar's existing shareholders have entered into a lock-up agreement, according to which, for 12 months after the shares are listed, major shareholders and for six months, minor shareholders are not allowed to sell or otherwise transfer their Infortar shares without the consent of the offering organizers.

LHV and Swedbank organized the initial public offering of Infortar shares."

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