Port of Tallinn Initial Public Offering (EBRD-50111)

Countries
  • Estonia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 23, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
AS TALLINNA SADAM
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 18.48 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported Equity investment of EUR 15.9 million.
Converted using 2018-07-18 exchange rate.
Project Cost (USD)
$ 171.28 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 147.4 million
Converted using 2018-07-18 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 31, 2019

Disclosed by Bank Jun 18, 2018


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Project Description

A participation in the Initial Public Offering (IPO) of the Port of Tallinn on the Nasdaq Tallinn Stock Exchange. The Project will support improved transparency and efficiency of the issuer and development of the local capital market. The transition impact of the Project is primarily generated through the facilitation of capital market development ("Resilient") and improved corporate governance ("Well Governed").

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

AS Tallinna Sadam (the "Port of Tallinn") is a public limited liability company incorporated in Estonia and majority owned by the Government of Estonia (67 percent following the IPO). AS Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which serviced 10.6 million passengers and 19.2 million tons of cargo in 2017. Via its subsidiaries, the Port of Tallinn also provides ferry transportation services between the Estonian mainland and the largest islands as well as icebreaking and maritime support services.

Contact Information

Company Contact Information

http://www.portoftallinn.com/
Port of Tallinn Ltd Sadama 25, 15051 Tallinn, Estonia

Business opportunities

For business opportunities or procurement, contact the client company.

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Text of the PIP

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