Finantsinspektsioon issues an investor alert about public offers


Finantsinspektsioon has issued a public alert about the initial public offering of shares in Nu Holdings Ltd. The company has not registered its prospectus with Finantsinspektsioon or published it and so according to the information known to Finantsinspektsioon it may not offer its shares on the Estonian market.

A company must compile and publish a prospectus for a public offering of shares if the total selling price of its shares in all the member states of the European Union exceeds 2.5 million euros in a year. If between 2.5 million euros and 8 million euros of shares are offered, the prospectus may be compiled under the regulations of the national ministry of finance. If more than 8 million euros of shares are being offered though, the prospectus has to be compiled under the EU Prospectus Regulation.

The list of companies that Finantsinspektsioon has issued an operating licence to or that may provide cross-border services in Estonia can be found on the Finantsinspektsioon website. The website also lists the prospectuses registered in Estonia and those registered in the European Economic Area that can be used to offer securities in Estonia.

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