Nasdaq Tallinn
Press release

Nasdaq Welcomes Hepsor to Baltic Main List

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, November 26, 2021 – Nasdaq (NDAQ) announces that the shares of Hepsor (ticker: HPR1T), one of the largest real estate developers in Estonia, were listed on the Nasdaq Baltic Main List by Nasdaq Tallinn as of today, November 26, 2021.

The listing of Hepsor’s shares follows their initial public offering (IPO) in which the company raised EUR 10 million from the Baltic investors. A total of 19,621 investors subscribed for Hepsor’s shares and the offering was 8.7 times oversubscribed.

"Hepsor's IPO is the third largest IPO in the Baltic stock market history in terms of the number of investors. Of course, it is gratifying to see that Estonians increasingly want to be a part of the growth story of ambitious Estonian companies. It is equally good to see that more and more Estonian companies have decided to go public and create an opportunity for those people to become co-owners in the companies,” said Kaarel Ots, CEO of Nasdaq Tallinn.

According to Henri Laks, member of the Management Board of Hepsor, the company wanted to give everyone an opportunity to participate in the growth and success story of one of the largest real estate development companies in Estonia. "This impressive oversubscription is a great recognition to us and shows that people have great faith in Hepsor. I believe that Hepsor's share will perform strongly. There is a solid basis for this in the form of our large development portfolio," said Laks.

Hepsor is one of the largest real estate developers in Estonia and is moving in the same direction in the Latvian market. Hepsor has been the first developer in the Baltics to implement several innovative engineering and technical solutions that make the buildings they construct more energy-efficient and thus more environmentally friendly. To date, the company has created 40 development projects, 1,400 new homes and 23,000 sq. m of modern commercial space. The company’s development portfolio includes 22 development projects with a total area of 140,000 sq. m.

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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com.

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The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.

Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.