Tallinn exits Coop Pank after selling its entire stake for €6.3 million

The City of Tallinn has sold its entire stake in Estonia’s Coop Pank, completing its exit from the listed bank.The city sold 2,845,973 shares, representing around 3% of Coop Pank’s share capital, at €2.22 per share. The transaction brought Tallinn approximately €6.32 million.The shares were offered through an accelerated bookbuilding process arranged by Swedbank. Following completion of the transaction, Tallinn is no longer a shareholder in Coop Pank.Coop Pank is one of Estonia’s five universal banks and remains predominantly Estonian-owned, with the domestic Coop retail network as its strategic shareholder.The transaction moves a sizeable block previously held by the municipality into the market while leaving the bank’s strategic ownership structure unchanged.