IPO/book building service

Nasdaq CSD Estonian branch offers to issuers a book building service

The essence of the service is the collection of subscription orders from investors in the core CSD system through account operators. This service is provided by the Nasdaq CSD Estonian branch to companies whose:

• securities must be registered in the Estonian Securities Register pursuant to the provisions of §2 (1) of the Securities Register Maintenance Act
• securities may be publicly offered in accordance with § 12 of the Securities Market Act or admitted to trading on a trading venue provided for in § 3 of the Securities Market Act

In order to provide the service, an agreement must be concluded with the Nasdaq CSD Estonian branch, where the content of the service is agreed in more detail, but the service usually includes:

• collection of subscription orders
• providing the issuer with an ongoing overview of the subscription orders collected and
• after the allotment has been confirmed by the Issuer, the generation of delivery versus payment settlement instructions to the Depository system so the company receives the capital and investors securities.