Government endorses sale of holding in Eesti Telekom

The Estonian government Thursday decided to give its consent to the sale of shares in Eesti Telekom at 93 kroons (EUR 5.94) per share.
Eesti Telekom has also convened a general meeting of shareholders in order to decide the payment of additional dividends of nearly 7 kroons per share.
It is also planning to endorse for three [...]

Laar: Eesti Energia will be listed

Mart Laar, the chairperson of Pro Patria and Res Publica Union (IRL) said at the conference Business Plan that listing Eesti Energia has been decided, aripaev.ee reports.
“Officially not,” Laar answered to Meelis Mandel’s question if he heard correctly and Eesti Energia will be listed.
Source: BBN

Estonia will collect 3.5 bEEK from the sale of Eesti Telekom

The state will improve its budget balance by EEK 518 mln already this year, but not all small shareholders and analysts are pleased about the state accepting the offer, Äripäev reports.
Yesterday the Ministry of Finance announced that the state has agreed in principle to sell its holding in Eesti Telekom. The price for the holding would [...]

Kalev adopts new name – Luterma

The listed Estonian food and real estate group AS Kalev has adopted AS Luterma as its new business name.
The extraordinary general meeting of shareholders that endorsed the change also approved corresponding amendments in the statutes of association, Kalev told the stock exchange.
At Thursday’s general meeting 85.43% of the company’s registered capital was represented.
Oliver Kruuda, the [...]

Starman delisted

On March 5, 2009, the Listing and Surveillance Committee of NASDAQ OMX Tallinn Stock Exchange decided to satisfy the application of Starman AS from January 22, 2009, and to delist its shares from the Main List of TSE starting from the next day after the Estonian CSD has transferred the minority shares to the majority [...]

Kalev filed delisting request

AS Kalev submitted on February 23rd, 2009 to NASDAQ OMX Tallinn Stock Exchange an application for delisting AS Kalev shares. 
Management estimated that failure by Alta Capital Partners to execute food industry enterprise sales agreement concluded on 2007 to AS Kalev does not allow to execute business plans planned on fall 2007. Amongst other things AS [...]

President visits stock exchange

“In Estonia, a way out of the current economic recession is being sought. Therefore, Estonia requires a long-range view of the future, a vision of the steps that will bring us closer to achieving our goals,” President Toomas Hendrik Ilves said today while visiting the Tallinn Stock Exchange and meeting with members of the management. [...]

Stock exhange market dropped by 60 percent in 2008

On the securities markets, last year will be marked by a global financial crisis. Pessimism reached the securities market earlier than in the real economic statistics, resulting in a more than 60% drop in stock exchange indices (OMX Tallinn -62.98%, Baltic Benchmark Cap GI -66.69%). The annual turnover of NASDAQ OMX Tallinn Stock Exchange was [...]

Venture capital fund stops calculating NAV

Estonian investment bank Gild Bankers announced that it has stopped calculating the net asset value (NAV) of the units of Estonia’s only venture capital fund Gild Arbitrage.

Tõnno Vähk, partner of Gild Bankers and fund manager of Gild Arbitrage, told Äripäev that the decision was made because at present it was simply not possible to calculate [...]

Estonia raises government guarantee on deposits to EUR 50,000

The Estonian government approved raising guarantees on all bank deposits to EUR 50,000 to bolster financial stability, in line with a decision by European Union finance ministers.

The deposit guarantees will be lifted from EUR 20,000 starting today, the press office of Prime Minister Andrus Ansip said in a statement., Bloombegr writes. The decision would guarantee equal [...]