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Published: 2022-01-04 13:30:26 CET
Elmo Rent
Company Announcement

ELMO Rent AS publishes supplemented company description in English language

ELMO Rent AS notified of initial public offering of shares on 27 December 2021 and published company description as an offering document.  

ELMO Rent AS publishes the company description translated into English that has been enclosed to the announcement and will be made available on ELMO Rent AS homepage at https://elmorent.ee/en/investor-relations/

ELMO Rent will offer 145,450 new shares and reserves a right to increase the offering by up to 500,000 shares, thus in total of up to 645,450 shares. The proceeds of the offering, in total between EUR 0.8 million to EUR 3.55 million euros, are planned to be used for acquiring Elektritakso OÜ and thereby launching a taxi service in Tallinn as a new business area, supplying and testing the next remote vehicle technology, expanding the vehicle fleet, preparation work for entering foreign markets and developing further the IT software for vehicle fleet operation. 

The offering is directed at retail and institutional investors in Estonia. ELMO Rent will submit an application for admission of all new shares issued in the course of the offering, to trading on the multilateral trading facility First North.


Overview of the essential terms of the offering:

Offering period during which the shares can be subscribed for starts on 27 December 2021 at 10:00 and ends on 10 January 2022 at 16:00 (Estonian time).

The offer price is fixed at EUR 5.50 of which EUR 0.10 is the nominal value and 5.40 is issue premium. Only whole numbers of shares can be subscribed for.

Retail investor wishing to submit a subscription order must contact the administrator of the securities account opened in his or her Estonian Register of Securities for this purpose.

ELMO Rent has one class of shares and the offered shares belong to the same class.



The indicative timetable of the offering is the following:

27 December 2021 at 10:00 Start of offering period
10 January 2022 at 16:00 End of offering period
On or about 11 January 2022 Announcement on the results of the offering
On or about 14 January 2022 Settlement of the offering
On or about 27 January 2022 First trading day on Nasdaq Tallinn First North 


For additional information please contact:

Enn Laansoo, Jr.

member of the Supervisory Board

Phone: +372 521 6858