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Coop Pank, which is based on Estonian capital, is one of the five universal banks operating in Estonia. Coop Pank uses the synergy between retail and banking, and brings everyday banking close to people’s homes. Coop Pank has 16 branches and 29 banking points throughout Estonia. Coop Pank has been implementing a growth strategy since its arrival on the market in 2017 and increased its operating volumes by ca 30% per year.
The local store chain Coop Eesti, which has 330 stores in its network, is the majority shareholder of the bank. Coop Eesti consists of 19 consumer cooperatives, which have 80,000 client owners and ca 600,000 loyal customers.
At the end of May, the supervisory board of Coop Pank ordered the management board to launch activities for preparation of the public listing of the bank’s shares. This process should take about six months and the public issue of the shares of Coop Pank could take place in autumn 2019 at the earliest.
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The supervisory board asked the management board to start preparing the process of public listing of shares. This should take about six months and the public issue may take place in autumn 2019 at the earliest.
First of all, you must open a securities account in a bank in order to conclude securities transactions. Coop Pank itself does not offer the securities account service. You can enter into a securities account contract in the following banks: Swedbank, SEB, LHV and Luminor. The full list of the banks that provide the securities account service can be found on the website of the Nasdaq Tallinn Stock Exchange.
Once the public offering of the shares of Coop Pank starts, anyone interested can subscribe for them at the bank where they opened a securities account.
The exact terms and conditions of the offer will be published when the offer is announced.
Estonia is the home market of Coop Pank and we primarily see local investors and active clients of Coop Pank (both private and corporate), who hold accounts and settle in Coop Pank, as our potential investors. The exact terms and conditions of the offer will be published when the offer is announced.
Coop Pank is and will be an Estonian company. Coop Eesti, which currently has a holding of ca 60 percent in the bank, will also remain the strategic owner of the bank after the share issue.
Two years of rapid growth have shown that the strategy of Coop Pank is working and our operations could be even stronger. We need capital to finance further growth. We also want to give Estonian people the opportunity to participate in the growth of a local bank and acquire the company’s shares in the early stage.
We need additional capital to increase our operating volumes, attract new customer segments and invest in contemporary technologies.