Tallinn Stock Exchange started trading with shares of Starman

28.06.2005 TLN

Tallinn Stock Exchange Press Release
28.06.2005

Today Tallinn Stock Exchange started trading with shares of Starman . 3,298,993 shares of Starman were sold by public and institutional offering at the price of EUR 3.35. In the end of the first trading day the share closed at EUR 3.98 level, which means 18.8% rise compared to the issue price.

“So far mostly foreign investors have gained from the economic development of Estonia, now it’s time also for Estonians to benefit from the rapid development and produced value added of the domestic enterprises. Listing of new companies gives good possibility for that. I believe that Starman will grow as fast as or even faster than Estonia,” said Kaidi Oone, the CEO of Tallinn Stock Exchange.

“The successful IPO of Starman shows that investors believe in the growth potential of Starman. We give our best to justify the belief and to secure our leading position among other telecommunication companies,” said Peeter Kern, the Managing Director of Starman.

345 transactions were made with the share of Starman during the first trading day and the turnover was EUR 1,067,341. 248,799 shares found new owner during the exchange transactions of Starman. Market capitalization of Starman after the first trading day is EUR 51.95 million that places the company to 16. place among Baltic security market companies.

The list of shareholders is available on the website of Estonian CSD. Starman has the total of 1647 shareholders.

Starman and Tallinna Vesi (listed June 1, 2005) are the first companies to be listed on Tallinn Stock Exchange after six years break. The last IPO before those took place on February 11, 1999 when Tallinn Stock Exchange started trading with the shares of Estonian Telecom.

Similarly to other Main List companies Starman and Tallinna Vesi were given GICS (Global Industry Classification Standard) classifications which will enter into force starting from July 1, 2005 – Starman: 25401020 (Broadcasting & Cable TV), Tallinna Vesi: 55104010 (Water Utilities). Tallinn, Riga and Vilnius Stock Exchanges will give GICS classification only to the Main List companies.