Trading of Eesti Ehitus Shares began on the Tallinn Stock Exchange

18.05.2006 TLN

Today, shares of Eesti Ehitus started to trade on the Tallinn Stock Exchange. Via a public tender and an institutional offer 3,278,138 shares of Eesti Ehitus were sold at a price of EEK 89.97. The closing price of the shares was 94,97, which implies an increase of 5,6% compared to the issue price.

“Four new companies have been listed on the Tallinn Stock Exchange during the past year and each of them has come to the stock exchange with its own story. The story does not end at the stock exchange. It must be continued through the owners of the company, its managers, employees, management culture, openness and transparency. Starting today, Eesti Ehitus will tell its stock exchange story. We hope that it will become a great story because in the professional league, great stories must be told,” said the Chairman of the Management Board of the Tallinn Stock Exchange Kaidi Oone.

“I am glad that the first trading day has been active. It has been a new experience for us, and now that Eesti Ehitus is a listed company, it is our task to continue our best efforts to maintain the trust of our investors. With the funds to be collected from the sale of shares we wish to expand our activities and also increase the value of the company in the future,” said the Chairman of the Management Board of Eesti Ehitus Jaano Vink.

During the first trading day, 344 transactions were performed with the shares of Eesti Ehitus, the turnover for the day reaching EEK 49,4 million. New owners acquired 521 252 shares via exchange transactions on the first day. At the closing of the first trading day, the market capitalization of Eesti Ehitus was EEK 1,46 billion, by which the company ranks 10 on the main list of the Baltic stock exchanges.

The list of the shareholders of Eesti Ehitus can be found on the E-register web page. Eesti Ehitus has a total of 2160 shareholders. Nearly 66.15% of the shares of Eesti Ehitus are held by its parent company AS EE Grupp. Freely traded shares account for 24% of the share capital of Eesti Ehitus.

Like the other companies in the Main List, Eesti Ehitus was also given the international GICS (Global Industry Classification Standard) classification that will be valid beginning May 2006 – 20103010 (Construction & Engineering). The shares of Eesti Ehitus will also be included in the Tallinn Stock Exchange index OMX Tallinn starting from May 19th 2006 and in the Baltic index BALTIX starting from Q3 2006.

Eesti Ehitus was established in 1988, and is one of the three biggest Estonian companies, operating in Ukraine in addition to Estonia. The company focuses on general contracting as well as engineering and technical solutions, and has know-how in almost all areas of construction. The consolidated profit of the AS Eesti Ehitus Group for the last year, less taxes and minority shareholdings, was approximately EEK 87 million, which is almost 57% more than in 2004.

Eesti Ehitus earned nearly EEK 130 million from the share issue with EE Grupp earning nearly EEK 164 million. The volume of the entire tender was about EEK 294 million. The main organizer of the public tender of AS Eesti Ehitus was Suprema Securities, the co-organizer Hansapank.