FSA determined additional liquid shares to be traded on the regulated market
The Financial Supervision Authority determined with a decision of the Management Board made at the meeting held on 10 April 2017 to admit two additional liquid shares for trading at Nasdaq Tallinn Stock Exchange:
- Tallink Grupp AS (EE3100004466);
- Olympic Entertainment Group AS (EE3100084021).
According to the European Commission (EU) Regulation No. 1287/2006, the Financial Supervision Authority shall ensure that at least once a year a list of all liquid shares admitted to trading on a regulated market is prepared and disclosed. Determination of liquid shares imposes on certain investing companies an additional obligation to disclose trading information. This promotes competition between trading venues to increase investor choice.
Currently there are no shares in Estonia that would meet the conditions of liquid shares described in the regulation. The conditions are that the share is traded daily, with a free float not less than 500 million euros, and one of the following conditions is satisfied: the average daily number of transactions in the share is not less than 500 or the average daily turnover for the share is not less than 2 million euros.
If a share does not have a liquid market within the meaning of the regulation, the Financial Supervision Authority as a competent supervisory authority may designate additional liquid shares from among the shares admitted for trading on a regulated market those that are considered to have a local liquid market.