Coop Pank is here to stay. Our mission is to boost Estonian companies and help people make their dreams come true in every corner of Estonia – in the countryside as well as in the cities.
Invest in your own future and in the future of Estonia by subscribing for the shares of the rapidly growing Coop Pank.
+31% per year
+34% per year
+44% per year
+51% per year
clients 24% per year on average
16% per year on average
clients 24% per year on average
16% per year on average
Subscribing for Coop Pank shares is very easy:
15-20 € million
€ 2,00
15.-29.11.2022
Coop Pank will offer up to 7,610,348 new ordinary shares without nominal value in a secondary public offering, with the right to increase the number of shares in the offering by up to 2,536,783 shares in the event of oversubscription, bringing the total number of shares in the offering up to 10,147,131 shares. We will use the capital involved to increase our business volume and market share.
Pre-emptive subscription rights will be granted to all shareholders of Coop Pank who have been entered in the list of shareholders in the settlement system of the Estonian Register of Securities as at EOD on 15.November 2022. A shareholder holding subscription rights has the pre-emptive right to subscribe for shares in the offering in proportion to the book value of their shares.
If the volume of the offering is 7,610,348 offer shares, a shareholder has to subscribe for one offer share for every 12 shares they hold in order to maintain their existing holding proportion. If the volume of the offering is increased and it is 10,147,131 offer shares, a shareholder has to subscribe for one offer share for every 9 shares they hold in order to maintain their existing holding proportion.
The additional shares of Coop Pank will be offered at a price of €2,00 per new offer share.
All shares of Coop Pank are ordinary shares without a nominal value. All current and new shareholders have the same control and voting rights and rights to dividends.
Offer shares of Coop Pank will be listed on the main list of Nasdaq Tallinn Stock Exchange. After the listing, it is possible to freely buy and sell the offer shares of Coop Pank on the regulated market. The expected first trading day of the offer shares is on or about 7 December 2022.
Starts on 15. November 2022 at 10:00
Ends on 29. November 2022 at 16:00
The shares are offered publicly to retail investors in Estonia and privately to professional investors. Please see the prospectus for a more detailed description.
The Bank will decide on the distribution of the shares after the end of the offering period on or about 30 November 2022 and will publish the results of the offering on or about 01 December 2022. Please see the prospectus for a more detailed description of the distribution principles.
The shares distributed to investors will be transferred to their securities accounts on or about 05. December 2022. Trading with the bank’s new shares in the main list of Nasdaq Tallinn Stock Exchange is expected to begin on or about 07. December 2022.
The prospectus has been published in accordance with the requirements of EU Regulation 2017/1129/EU and is available on the websites of the Financial Supervision Authority and Coop Pank at www.fi.ee or www.cooppank.ee/pakkumine.
The secondary public offering of Coop Pank shares will take place from 15 to 29 November 2022. You need a securities account to subscribe for the shares. The shares of Coop Pank can be subscribed for via all banks that manage Baltic securities accounts. The biggest banks among them are: LHV Pank, Swedbank, SEB Pank and Luminor.
You can use the channels made available by the account manager to submit the subscription application. The easiest way to subscribe for the shares is via an Internet bank.
The instructions on how to open a securities account required for subscribing for the shares open in a separate window after you’ve selected your home bank where you want to open a securities account.
The shares are offered publicly only to Estonian retail investors and non-publicly to qualified investors in certain selected Member States of the European Economic Area. Please see the prospectus for details.
A legal person needs an LEI code to buy shares. Companies and other legal entities can apply for an LEI code from authorised agencies, a list of which can be found on the website of the Global Legal Entity Identifier Foundation (GLEIF).
Coop Pank will offer up to 7,610,348 new ordinary shares without nominal value, with the right to increase the number of shares in the offering by up to 2,536,783 shares in the event of oversubscription, bringing the total number of shares in the offering up to 10,147,131 shares.
The subscription price of a Coop Pank share is €2,00 per one offer share. Please see the prospectus for details.
Yes, according to the Commercial Code, when the share capital is increased and new shares are issued, a shareholder of the bank has the pre-emptive right to subscribe for new shares in proportion to the book value of their shares. The list of shareholders with pre-emptive rights is fixed in the settlement system of the Estonian Register of Securities as at EOD on 15 November 2022.
In the case of oversubscription, the shares will be distributed on the basis of all subscription applications. First, the bank will satisfy the subscription orders of the shareholders with the right of preemption. The bank also has the right to prefer the bank’s shareholders in respect of the part that exceeds the pre-emptive subscription rights, and the bank also has the right to prefer its clients and the persons who have invested in the bonds issued by the bank. Detailed information on the distribution of the offer shares can be found in the prospectus.
The results and distribution of the issue will become clear on or about 01.12.2022. After the distribution of the shares, every subscriber can receive information on the number of the Coop Pank shares held by them in the bank where they opened a securities account and through which they subscribed for the shares of Coop Pank.
For more information, please visit the website www.cooppank.ee/pakkumine or read the prospectus .
If you are not already a client of LHV Bank, please open an account.
For transactions in securities, enter into an investment services contract, after which you will be able to open a Baltic securities account free of charge.
In case of any questions, please dial LHV customer support at 6 800 400 or e-mail info@lhv.ee
If you are not already a client of Swedbank, please open an account.
Open a free of charge securities account in order to trade in securities.
In case of any questions, please dial Swedbank customer support at 6 310 310 or e-mail info@swedbank.ee
If you are not already a client of SEB, please open an account.
Open a free of charge Baltic Depository securities account in order to trade in securities.
In case of any questions, please dial SEB customer support at 6 655 100 or e-mail info@seb.ee
Please visit the nearest Luminor branch in order to open a securities account in Luminor Bank.
In case of any questions, please dial Luminor customer support at 628 3300 or e-mail info@luminor.ee
Our goal is to boost Estonian companies and help people make their dreams come true in every corner of Estonia – in the countryside as well as in the cities. Invest in your own future and in the future of Estonia by subscribing for the subordinated bonds of the rapidly growing Coop Pank.
To subscribe for subordinated bonds of Coop Pank, please log in to the LHV online bank.
After verification you will be automatically directed to the LHV securities account where you can subscribe for subordinated bonds of Coop Pank, a domestic and rapidly growing bank.
In case of any questions, please dial LHV customer support at 6 800 400 or e-mail info@lhv.ee
To subscribe for subordinated bonds of Coop Pank, please log in to the Swedbank online bank.
After verification you will be automatically directed to the Swedbank securities account where you can subscribe for subordinated bonds of Coop Pank, a domestic and rapidly growing bank.
In case of any questions, please dial Swedbank customer support at 6 310 310 or e-mail info@swedbank.ee
To subscribe for subordinated bonds of Coop Pank, please log in to the SEB online bank.
After verification you will be automatically directed to the SEB securities account where you can subscribe for subordinated bonds of Coop Pank, a domestic and rapidly growing bank.
In case of any questions, please dial SEB customer support at 6 655 100 or e-mail info@seb.ee
To subscribe for subordinated bonds of Coop Pank, please log in to the Luminor online bank.
After verification you will be automatically directed to the Luminor securities account where you can subscribe for subordinated bonds of Coop Pank, a domestic and rapidly growing bank.
In case of any questions, please dial Luminor customer support at 628 3300 or e-mail info@luminor.ee
Our goal is to boost Estonian companies and help people make their dreams come true in every corner of Estonia – in the countryside as well as in the cities. Invest in your own future and in the future of Estonia by subscribing for the subordinated bonds of the rapidly growing Coop Pank.
Results of the secondary public offering of shares of Coop Pank AS
The secondary public offering of shares of Coop Pank AS (Coop Pank) ended on Tuesday, 29 November 2022 (the Offering).
In the course of the Offering, Coop Pank offered up to 7,610,348 new ordinary shares to be issued without nominal value (the Offer Shares), which, Coop Pank was, in case of oversubscription of the Offering, entitled to increase by up to 2,536,783 Offer Shares. The Offer Shares were offered at a price of EUR 2.00 per share, of which EUR 0.681455 is the book value and EUR 1.318545 is the share premium. The Offer Shares were offered publicly only in Estonia. The Offering was conducted on the basis of the prospectus approved by the Estonian Financial Supervision and Resolution Authority on 14 November 2022 (the Prospectus).
A total of 14 661 investors submitted subscription undertakings in the total amount of EUR 64,5 million, i.e 32,2 million Offer Shares, so the base volume of the Offering was oversubscribed by 4,2 times.
Investors who were shareholders entered in the shareholders’ register of Coop Pank as at the end of the business day of the settlement system of the Estonian Securities Register on 15 November 2022 (the Record Date) submitted subscription undertakings in the total amount of EUR 35,6 million. Coop Pank used the right to increase the volume of the Offering up to 10,147,131 Offer Shares. The total proceeds of the Offering are EUR 20,3 million.
In accordance with the Prospectus, Coop Pank decided to allocate the Offer Shares based on the following principles:
Margus Rink, Chairman of the Management Board of Coop Pank, acknowledged all the investors on behalf of the bank:
"Investors' interest in our new shares was really high, and it ended with a 4.2 times oversubscription of the issue. We highly value investors' trust and faith in the continuation of Coop Pank's growth. In accordance with the conditions of the issue, this time we gave preference to the existing shareholders of Coop Pank, who were allocated 86% of the new shares.
We continue to implement the growth strategy with the support of additional capital. We have promised that by 2027, when the 10th anniversary of the birth of Coop Bank, the bank's market share will grow to 10%, we will have 150,000 active customers, the loan portfolio will exceed 2 billion euros, the cost/income ratio will be below 50% and the return on equity will be over 15%.
We want more and more of our current investors and customers to become part of the bank's success story. We are grateful and proud that the number of our investors is now more than 35,000," said Margus Rink.
The Offer Shares allocated to investors will be transferred to investors’ securities account on or about 5 December 2022 by using “delivery versus payment” method. During the settlement, the Offer Shares carry the temporary ISIN code EE380G007850, which will be changed to the permanent ISIN code EE3100007857 of the shares of Coop Pank on or about 7 December 2022 after settlement of the Offering.
Trading with the Offer Shares on Nasdaq Tallinn Baltic Main List is expected to commence on or about 7 December 2022.
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking has reached 141,600. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti comprising 330 stores.
Additional information:
Paavo Truu
CFO
Phone: 5160 231
E-mail: paavo.truu@cooppank.ee
Important information
This notice is an advertisement for securities within the meaning of the Regulation No 2017/1129/EU of 14 June 2017 of the European Parliament and of the Council European Parliament and does not constitute an offer to sell Offer Shares or invitation to subscribe to Offer Shares. An offer to subscribe to Offer Shares should be made, and each investor should make any decision to invest in the Offer Shares only on the basis of the information contained in the Prospectus and if necessary, consult with an expert to fully understand the potential risks and rewards associated with a decision to invest in Offer Shares. The approval of a Prospectus by the Estonian Financial Supervision and Resolution Authority is not considered to be a recommendation for Offer Shares.
The information contained in this notice is not intended to be published, distributed or transmitted, in whole or in part, directly or indirectly, in the United States, Canada, Hong Kong, Japan, Singapore, South Africa, or in any other country or circumstance where publication, sharing or transmission would be unlawful. Offer Shares will be publicly offered only in the Republic of Estonia and certain selected Member States of the European Economic Area and the sale or offer of the Offer Shares shall not take place in any jurisdiction where such offer, invitation or sale would be unlawful without the exception or qualification of law.
The website you are accessing contains information about the secondary public offering of the shares of Coop Pank AS (Shares). The Shares are being offered publicly to retail investors in Estonia and non-publicly to qualified investors within the meaning of Article 2(e) of Regulation 2017/1129/EU (Qualified Investors) in Estonia and certain selected Member States of the European Economic Area.
Outside Estonia, the information in this section of the Website is aimed only at persons who are Qualified Investors in countries that are Contracting Parties to the European Economic Area. Therefore, persons who are not Qualified Investors may not act or rely on this information in any Contracting State of the European Economic Area (except Estonia). The shares will be offered to the public only in Estonia and will not be registered or offered in any other jurisdiction.
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