Listed companies increasing divident payouts

Out of the 13 companies listed on the Tallinn stock market, 10 are planning or have already announced dividends this year.

The total will be 82 million euros, Postimeesreported today, with more companies than ever announcing a policy of dividends.

Ekspress Grupp, owners of Delfi, and ferry operator Tallink began paying out dividends last year and are now joined by construction giant Nordecon, with Merko Ehitus (also construction), Tallinna Kaubamaja (store), Silvano GG (fashion), Harju Elekter (power), Olympic (casinos), Premia foods and Tallinna Vesi (waterworks) all expected to indulge shareholders.

Source: ERR

Tallink reports EUR 23m loss in Q1

Ferry operator Tallink had an operating loss of 23 million euros in the first quarter.

The first quarter is normally a low season for the company, but the loss was one-third larger than the loss in the first quarter of last year.

Several ships underwent scheduled maintenance in the first quarter, but the results were also affected by the maintenance and upgrading of the cruise ship Silja Serenade.

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Biggest private investor pulls out of Estonian share

Stefan Andersson, a Swedish private investor who has been one of the biggest investors in Tallinn Stock Exchange, has sold most of its holdings, writes Äripäev.

Last year, Andersson sold 842,706 euros worth of shares of Merko Ehitus, 235,000 euros worth of Tallinna Vesi, 115,000 euros worth of Tallink and 95,000 euros worth of Järvevana.

In addition, he sold 413,000 euros in Fortum shares and 163,000 euros of UPM shares.

All in all, Andersson sold about 1.9 million euros worth of shares in 2013.

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Tallinn stock market too small

NASDAQ OMX Tallinn head of board Rauno Klettenberg said the market’s trading volumes are low, but enlisting state companies on the stock market would bring back life.

According to Postimees, trading turnover in the Tallinn stock market was 48 million euros in the first quarter this year, 40 percent less than during the same period last year.

Read more from ERR

Estonian casino operator increases share in Italian company

The listed Estonian casino operator Olympic Entertainment Group (OEG) is increasing its holding in The Box, a company that manages operations in Italy, to 70%.

The Box is, in turn, acquiring a 100 percent holding in Slottery, a company that operates 10 video lottery terminal (VLT) gaming rooms with a total of 254 gaming machines and a total floor area of 2,057 square meters in Milan and its vicinity.

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Eesti Energia makes good profit in Q3

State owned Estonian energy group Eesti Energia reported a net profit of 42 million euros in the third quarter of 2013.

This is 12 percent more than in the same period a year ago.

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Tallink’s large shareholders may earn 200 mEUR in dividends

Three Estonian businessmen Enn Pant, Kalev Järvelill and Ain Hanschmidt who are large shareholders in Tallink ferry group through their jointly owned company Linandell  Ltd can take out 200 million euros in dividends, shows the company’s annual report.

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Tallink may be delisted

This week Baltic Cruises Holding L.P., subsidiary of CVCI Growth Fund II that is large shareholder of Tallink Group since December 2012 paid another EUR 5.25m for buying more Tallink shares and now owns 16.5% of the ferry company, writes Äripäev.

This has again triggered speculations that the end objective of the new shareholder is to delist Tallink from the stock exchange.

In December 2012, Baltic Cruises Holding paid 116m euros for buying 15.7% of the shares of Tallink from large shareholders including Infortar.

One of the financial professionals who believes that this is all part of eventually delisting Tallink is Ago Lauri, board member of Kawe Kapital.

„Why buy a large block of shares at a high price, ban others to buy shares from the market and later give up a cheaper possibility to buy shares,” asks Lauri.

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Pro Kapital cancels IPO for lack of investor interest

Estonian property developer Pro Kapital Grupp called off plans for what would have been the largest initial public offering in the Baltic region since 2008, citing a lack of demand for shares at the proposed price level.

The move comes just two weeks after the company announced plans to raise €70 million on the Nasdaq OMX Baltic stock exchange. Pro Kapital, which wanted to use the money to finance new real-estate projects in Estonia and Latvia, would have been returning to the stock market after an 11-year hiatus.

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Risk fund leaves investors with nothing

Buyers of units of Gild Arbitrage, Estonia’s first risk fund, are likely to lose all of their investment since the units are worthy nothing and the fund’s liabilities exceed its assets which include a few lots in Armenia that may or may not have gold or copper reserves.

The fund was founded ten years ago by former fund manager Tõnno Vähk and Tõnis Haavel, former partner of Gild Bankers. Another partner of Gild Bankers, Rain Tamm, was also actively involved.

The three that are still investors in the fund have put Tõnu Pehk in charge. Pehk has made attempts to revive the fund, but is now losing hope as the net asset value of the fund is zero.

Fund’s creditors have received about half of their investment, but unequally since some bond holders had collateral, while most did not.

Read more from BBN


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