Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

Tallink might leave stock exchange

Mar 20, 2013
From wire reports

Tallink might leave stock exchange
Tallink shares continue to rise in the exchange.

TALLINN - Rumors have started circulating that Estonian passenger shipping company Tallink might leave NASDAQ OMX Tallinn, which has boosted the price of the attractive share, Eesti Paevaleht reports.
The past six months have been very successful for the company in regard to financial indicators – first Tallink Grupp fulfilled the aim to pay dividends. Namely, the company had included in its April 2011 strategy a provision that it would pay dividends when its loan burden is at an optimal level. That specified level was achieved in the third quarter of last year and the concern’s board member Andres Hunt told Aripaev on March 1 that the company is working in the name of paying dividends and wishes to announce it to investors as soon as possible.

Second, in the middle of December, an unexpected announcement was made that 15.73 percent of the company’s shares were bought from five large shareholders of Tallink by Baltic Cruises Holding, who is a subsidiary of one of the shareholders of Tallink, CVCI Growth Fund II. Besides the remarkable volume, over 116 million euros, the transaction was special since the investor paid 1.10 euros per share which exceeded the price at that time by 42.3 percent. The price being higher than market price and the ban Baltic Cruises Holding enforced against other major owners to buy more shares till April 30, immediately sparked rumors that the company might leave the bourse.

Last Friday, Baltic Cruises Holding bought an additional 5.25 million shares from funds and major investors, paying 1 euro per share and boosting its stake to 16.5 percent. On Thursday, Tallink’s share gained 2.88 percent to close at 1 euro, which is the highest level in five years.

 MORE NEWS
  • Sanctions cut into Estonia tra...
    TALLINN - Estonia’s transport industry, a key contributor to the Baltic econ...
  • Israeli investors announce hig...
    VILNIUS - Lithuanian President Dalia Grybauskaite met with a business delegation f...
  • Elering looks for power line f...
    TALLINN - Estonia’s electric power operator Elering reported that in paralle...
  • PKC Group likes Lithuania for ...
    VILNIUS - Finnish PKC Group opened a new manufacturing unit in the beginning of...
  • No bidders in Snoras building ...
    RIGA - The first two auctions held to sell the property at 23 Pils Street in Ri...
  • Specialist shortage limits IT ...
    RIGA - Latvia’s IT sector turnover increased by 20 percent last year, an ...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.