AS ÜHISPANK

ANNOUNCEMENT

25.01.99

 

 

SUBSCRIPTION PERIOD OF ESTONIAN TELECOM SHARES

 

The Initial Public Offering (IPO) of Estonian Telecom shares began 

today, on 25 January, and it lasts till 12 noon on 9 February. 

 

The subscription is for 36 015 000 A-shares of Estonian Telecom, and 

investors can gauge their offers within the price-range disclosed by 

the Estonian Ministry of Transport and Communications – EEK 67-85 

(USD 4.98-6.31).

 

International investment institutions as well as institutions and 

private persons in Estonia may take part in it. The international 

subscription is organised by ABN Amro Bank N.V., N.M. Rothschild & 

Sons Limited, and Nomura International Plc., the one in Estonia, 

however, by AS Eesti Ühispank and Talinvest-Suprema Väärtpaberite AS 

(Talinvest-Suprema Securities Ltd.). 

 

Estonian investors can subscribe for the shares of Estonian Telecom 

at the following banks: Eesti Ühispank, Hansapank, Optiva Pank, and 

Krediidipank. Investors can also use Eesti Ühispank’s Internet Bank 

facility. Before making an offer, investors must have opened an 

account with the Estonian Central Depository for Securities. 

 

The Public Offering Circular establishes the terms and conditions for 

the purchase and sale of Estonian Telecom shares. 

 

The Estonian Ministry of Transport and Communications will announce 

the actual price of Estonian Telecom shares on 10 February. The 

shares will be priced within the already disclosed minimum and 

maximum range.  

 

Investors in Estonia can obtain further information on this issue 

from the following sources:

 

IPO Circular at <a href='http://www.telecom.ee/info.htm' target='_blank'>http://www.telecom.ee/info.htm</a> (in the Estonian language)

IPO Prospectus, in the Estonian and Russian languages, will soon be 

accessible on the home-pages of the above-mentioned Estonian banks

 

The printed IPO Circular is available in all the branches of the 

Estonian banks involved in the subscription. 

 

Further information:

 

Eero Sirendi

Corporate Finance Officer

Eesti Ühispank

Phone: +372 6 110 600

 

 

Tarmo Amer

Financial director

AS Eesti Telekom

Tel: +372 631 1212