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Baltic Index shoots up due to SEB's offer

  • 2000-08-31
Baltic Index shot up Monday (August 28) due to cash offer the Swedish bank SEB made to shareholders in three Baltic banks for outstanding shares in Eesti Uhispank, Latvijas Unibanka and Vilniaus Bankas.

The Baltic Index was up 8.18 percent to 114.53 points.

The Swedish bank's 238 million euro cash offer means a premium for current shareholders of approximately 40 percent above previous week's closing share prices.

On Monday Eesti Uhispank closed at 2.371 euros, up 37.41 percent. Latvijas Unibanka was up 40.78 percent, at 3.401 euros and Vilniaus Bankas climbed 13.54 percent to 9.144 euros. All three prices have reached the highest point so far this year.