Nasdaq Welcomes Enefit Green to Baltic Main List

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, October 21, 2021 – Nasdaq (NDAQ) announces that the shares of Enefit Green (ticker: EGR1T), an Estonian renewable energy company, were listed on the Main List of Nasdaq Baltic Stock Exchanges as of today. The shares were officially listed on Nasdaq Tallinn market.


The listing of Enefit Green's shares on the stock exchange follows the initial public offering of the company. Enefit Green offered its shares to Estonian, Latvian and Lithuanian retail investors and professional investors in selected countries. More than 60,000 investors subscribed for Enefit Green's shares and the offer was oversubscribed more than 4 times. In total, Enefit Green raised 175 million euros from the offer. 55% of the offered shares were distributed to retail investors and the remaining 45% to professional investors. Prior to the IPO, the sole owner of Enefit Green was Eesti Energia.

The Minister of Finance of the Republic of Estonia Keit Pentus-Rosimannus, the Chairman of the Supervisory Board of Eesti Energia Väino Kaldoja, the Chairman of the Supervisory Board of Enefit Green Hando Sutter, the Chairman of the Management Board of Enefit Green Aavo Kärmas, and the CEO of Nasdaq Tallinn Kaarel Ots symbolically rang the stock exchange opening bell in the morning of the first trading day of Enefit Green shares.

“More than 4% of the entire Estonian population participated in Enefit Green's share offer. This marks an absolute record of the number of IPO participants in the history of both the Estonian and Baltic stock exchanges," said Kaarel Ots, CEO of Nasdaq Tallinn. According to Ots, being a listed company makes Enefit Green even more transparent and well-known. "I believe this journey will be exciting for everybody involved," Ots added.

"Investors have welcomed the admission of Enefit Green to the stock exchange with great confidence – this was shown by the record share subscription, which exceeded the most optimistic expectations. The company now has the best possible mandate to implement its growth plan,” emphasized Keit Pentus-Rosimannus, Minister of Finance of Estonia and representative of the owner of Eesti Energia AS. "Today, we are also celebrating the beginning of an important journey for tens of thousands of new small investors to take part in the success story of renewable energy production," added Pentus-Rosimannus.

Looking to the future, Hando Sutter , Chairman of the Supervisory Board of Enefit Green, noted that people need more and more green electricity. "Customers' and investors' faith in us converts to strong wind in the sails of the Enefit Green team and matters greatly to ensure we all have enough green electricity in the future. The goals of Enefit Green are not only the goals of Enefit Green and Eesti Energia, but the common goals of all the people towards a cleaner future,” said Sutter.

According to Aavo Kärmas , Chairman of the Management Board of Enefit Green, the company wanted to give everyone the opportunity to contribute to a greener future and participate in the company's growth story through Enefit Green becoming a public company. "The record interest of retail investors was a big surprise for our team, but also a recognition to our current activities and to our very clear growth plan. This illustrates investors’ great trust in us, which our team will work hard every day to maintain," commented Kärmas.

**Enefit Green** is a renewable energy company that belongs to the group of Eesti Energia and owns a total of 22 wind farms in four markets – Estonia, Latvia, Lithuania, and Poland – as well as 38 solar power plants, 4 CHP plants, a pellet plant and a hydroelectric power plant. The company produced a total of 1.35 terawatt-hours (TWh) of electricity in 2020. Read more

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