Tallinn Stock Exchange has shown its results
The Tallinn Stock Exchange has summed up the results of its annual work. According to official information, 2022 was not as successful for the site as 2021. In 2022 the main index OMXTGI decreased by 12%. At the same time in 2021, it showed a 49% increase, making it the second most positive in the world. However, despite the decline, the representatives of the Tallinn Stock Exchange note that by the end of two years, the site still reached a growth rate of 30%.
In 2022 on the exchange 950 thousand transactions were carried out, the total amount of which amounted to 390 million euros. If we consider the activity during the year, the first six months were more productive. During this period on the exchange 260 million euros worth of transactions were carried out, while in the second half of the year, the number of contracts was 130 million euros.
As expected by analysts, the first place in the Estonian market belongs to two companies with the highest valuation. I am talking about Enefit Green, which operates in the renewable energy production sector. Transactions in the company’s shares amounted to 115 million euros. The second largest business is LHV Bank, which sold securities worth 82 million euros. In third place in terms of transactions is Coop Pank Bank with an index of 32 million euros.It should be noted that 2022 was extremely difficult for the entire financial market, which was also reflected in the processes of the Tallinn Stock Exchange. During the year, six IPOs were conducted on the site, thereby Estonia surpassed its neighboring Scandinavian countries in terms of the number of listings. EfTEN United Property and Tuul Mobility conducted initial public offerings, and Bigbank issued bonds.
LHV and Coop Pank listed an additional stake with a total valuation of €55 million. There was excitement around these offerings – investor demand was extremely high and far exceeded supply.
According to stock exchange representatives, despite the general negative sentiment on the global financial market, now is a good time to make a successful long-term investment. As regards the companies – they urgently need new injections of capital, which will help them to withstand the difficult period and to show strong growth in the future. The Tallinn Stock Exchange in its turn will do its best to promote the activity on the floor, attract new investors and bring companies to the market. At the moment more than 103 thousand investors make transactions on the stock exchange.