Nasdaq Tallinn: Results of the initial public offering of shares of Coop Pank AS

Coop Pank aktsiaselts (registry code: 10237832, address: Narva mnt 4, Tallinn,
15014; Coop Pank) announces of completion of the initial public offering of its
shares (the Offering). 

The Offering commenced at 10:00 on 18 November 2019 and ended at 15:30 on 29
November 2019. In the course of the Offering, Coop Pank offered up to
32,180,155 new ordinary no-par-value shares to be issued by Coop Pank (the New
Shares) and certain shareholders of Coop Pank offered up to 8,065,700 existing
ordinary no-par-value shares by (the Existing Shares; together with New Shares,
the Offer Shares). The number of Offer Shares may have been increased by up to
6,036,878 existing ordinary no-par-value shares to up to 46,282,733 Offer
Shares. 

10,879 investors participated in the Offering and subscribed for 32,989,362
Offer Shares in total. Subscriptions from retail investors were above
expectations while subscriptions from institutional investors remained more
modest than expected. 

Coop Pank together with AS LHV Pank (the Global Lead Manager) decided to
approve 1.15 euros as the Offer Price which is the lower end of the offer price
range. The Offer Price is the same in the retail offering and in the
institutional offering. 

Coop Pank together with the Global Lead Manager decided that all subscribers
will receive shares in the subscribed amounts and 32,989,362 Offer Shares
(including 2,462,699 over-allotment shares) are allocated to investors, which
represents 71 percent of the initially planned Offering amount. As a result,
the total volume of the Offering together with the over-allotment option is
37,937,766 euros. 

Based on the allocation approved by the supervisory board of Coop Pank,
27,236,321 New Shares and 5,753,041 Existing Shares (including over-allotment
shares) are allocated in the course of the Offering, which amount to 82,6% and
17,4% respectively of the total amount of Offer Shares allocated in the course
of the Offering. 5,753,041 Existing Shares (including 2,462,699 over-allotment
shares) are allocated as part of the institutional offering and the remainder
of the Offer Shares are allocated as part of the retail offering. The Existing
Shares are sold to the Offering by selling shareholders AS Inbank, Luciano
Orsero and Roberto de Silvestri, Andres Sonn decided not to sell shares in the
course of the Offering. 

The gross proceeds to Coop Pank from the Offering amount to 31.3 million euros.
After registration of the share capital increase of Coop Pank in the Estonian
Register of Securities, the share capital of the bank will be 60,960,316.9
euros and will consist of 89,456,166 shares. 

The Offer Shares allocated in the Offering will be eligible for any dividends
paid on the shares for the financial period starting on 1 January 2019, and for
any subsequent financial period. 

Offer Shares allocated to investors will be transferred to the securities
accounts of investors on or about 4 December 2019. Trading in the shares of
Coop Pank on Nasdaq Tallinn Stock Exchange Baltic Main List is expected to
commence on or about 9 December 2019. 

In connection with the Offering, Coop Pank and the Selling Shareholders have
granted AS LHV Pank as the stabilising manager the right to acquire up to
2,462,699 shares from the Nasdaq Tallinn Stock Exchange to stabilise the stock
price of the shares in conformity with the applicable law. AS LHV Pank may (but
is not obligated to) make stabilisation transactions on the Nasdaq Tallinn
Stock Exchange or over-the-counter at any time within 30 calendar days
(included) as of commencement of the trading with the Coop Pank's shares on the
Nasdaq Tallinn Stock Exchange. 

Kerli Lõhmus
CFO
Tel: [phone]
e-mail: [e-mail]

www.cooppank.ee

Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. It has 15 branch offices and 28 banking points all over
the country. The number of clients using Coop Pank for their daily banking has
reached 58,300. 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 and about 600,000 loyal
customers. 



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