Shares of Infortar, the owner company of Elenger group, are now tradable on the stock exchange
Nasdaq announced that trading in the shares of Infortar, Estonia’s largest investment holding company, began today on the main list of the Baltic stock exchanges (trading symbol: INF1T). Officially, the shares are listed on the Nasdaq Tallinn Stock Exchange.
The inclusion of Infortar shares in trading follows the company’s initial public offering (IPO), during which 35.36 million euros were raised from Estonian investors. A total of 5,517 investors subscribed to the shares, and the offering was oversubscribed by 1.3 times.
“I’ve said it several times and will say it again: becoming a public company requires courage. A company aspiring to go public doesn’t have to wait for ideal market conditions but needs clear ambition and unwavering belief in its story. Accordingly, I am particularly pleased to see that Infortar—one of Estonia’s largest companies and now among the top three in market capitalization on the Tallinn Stock Exchange—has conducted a successful IPO and is now a public company. Infortar is the first investment company listed on the Baltic stock exchange, providing investors with an additional opportunity to diversify their portfolios,” said Kaarel Ots, the head of Nasdaq Tallinn Stock Exchange.
“Going public gives momentum to our international expansion and helps attract additional capital. Infortar has only benefited from the IPO—our company’s quality has reached the next level, and our visibility has increased. Infortar is a growth-focused company—we are looking for new investment opportunities and aim to increase the value of investors’ assets,” said Ain Hanschmidt, Chairman of the Infortar Board.”
Infortar operates in five countries, the company’s main fields of activity are energy, shipping and real estate. Infortar owns a 100% stake in AS Eesti Gaas (Elenger), a 42% stake in AS Tallink Grupp, and a versatile and modern real estate portfolio of approx. 100,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, printing, taxi business and other areas. A total of 104 companies belong to the Infortar group. Excluding affiliates, Infortar employs 1,333 people. Further information is available on the company’s website.