Composition of Baltic List

16.12.1999 TLN

Joint Press Release of Baltic Stock Exchanges
December 16, 1999

Estonian, Latvian and Lithuanian stock exchanges approved the composition of the Baltic List, the list of Baltic blue-chip securities to be launched on January 3, 2000.

Composition of Baltic List 
 

The selection of the companies to the list is based on the following criteria:

• listed in the Official list
• minimum market capitalisation of EUR 15 million
• at least 25 % of listed shares must be traded publicly, or less if a sufficient amount of liquidity is guaranteed (relevant EU directive)
• financial statements in line with the International Accounting Standards (IAS)

The number of companies in the Baltic List may not exceed 15, whereas no more than seven may originate from one exchange. The composition of the list will be reviewed quarterly by the exchanges.

The index to reflect the price changes in the Baltic List securities will be launched during the first half year of 2000.

Uldis Cerps, president of RSE:
"It will be another move in the integration drive of the Baltic exchanges and a significant step towards the creation of a single stock market in Estonia, Latvia and Lithuania. The majority of international investors view the Baltics as a single region and the new upcoming Baltic List is a good example of Baltic exchanges responding to investors demands."

Gert Tiivas, Chairman of the Management Board of TSE:
"Although the launch the Baltic List will help investors to better focus on the Baltic region, the real benefits from it will arrive only if we can move ahead on enabling cross membership and fully linking our trading systems. We also need to make progress on the Baltic Index and linked derivatives products, which would give investors an easy way to get exposure to the main companies in the Baltics."

Rimantas Busila, NSEL president:
"Creation of the Baltic List is the first real step towards market access through cross membership. The Baltic List will include the best companies from the Baltic bourses, which may increase interest in the Baltic securities market as a whole."

Additional information:

Eva Palu
Head of Investor Relations Dpt
Tallinn Stock Exchange
Tel: +372 64 08 840
e-mail:

Ilze Nagla
Manager of Public Relations Dpt
Riga Stock Exchange
Tel: +371 7212 431

Diana Sokolova
Public Relations Manager
National Stock Exchange of Lithuania
Tel: +370 2 72 38 71