Summary of Estonian securities market, 2003

05.01.2004 TLN

HEX Tallinn press release
05.01.2004

In year 2003, the turnover of Tallinn Stock Exchange (TSE) was up 88% and totalled EUR 502 Mio; while the market capitalisation of Estonian listed companies added 30% during the same period.

TALSE, the index to reflect the price movements of shares listed on TSE, increased 34.44% to 285.65 points. The turnover velocity stood at 17%, compared to 12% in 2002.

Investments by individuals into investment funds increased considerably for the second year in a row. The amount of investment fund units in the market increased 51%, while the growth of investments by individuals was 59%. The number of individual fund unit holders was 4788 by the end of 2003, that is an increase of 37% in a year.

As at the end of the year, the total volume of funded pension funds grew from EUR 11 Mio to EUR 63.4 Mio. The total number of people who have joined the funded pension system reached 353,176 by the end of 2003; the number was 209,606 at the end of 2002. EPI – the funded pension index – increased 7.69% and stood at 109 points by year ending.

The growing activeness of funds and other institutional investors was also indicated by the higher size of stock exchange transactions. The average size of a transaction was 22,338 EUR – 83% higher than in the previous year. The number of stock exchange transactions grew from 21,878 in 2002 to 22,473 in year 2003.

2003 was also the rebirth year of the bond market. Bonds of three companies were listed on TSE.

Estonian ownership in TSE listed companies was 20% by the end of 2003, similar to 2002 (19%). The biggest part of shares – 53% – is owned by Swedish investors.

The main statistical indicators of Estonian securities market

Additional information:
Kristel Raesaar
Public Relations Adviser
Tallinn Stock Exchange / Estonian CSD
Tel: +372 640 8800
e-mail: kristel.raesaar.ee.omxgroup.com