City of Tallinn to Sell Shares in Coop Pank AS

The City of Tallinn has decided to sell its 2,845,973 shares in Coop Pank AS, a universal bank operating in Estonia. This move comes as the bank prepares for an accelerated bookbuilding (ABB) process, with the offering set to remain open until 13:00 on September 24, 2026.

Coop Pank AS, based in Tallinn, is one of the five universal banks in Estonia. The bank serves 239,100 clients who use everyday banking services. Coop Pank leverages the synergy between retail trade and banking, bringing closer to people the everyday banking solutions they need. The majority shareholder of the bank is the domestic retail chain Coop Eesti, which operates over 330 stores.

This decision by the City of Tallinn marks a significant move in the Estonian banking landscape, potentially reshaping the ownership structure of Coop Pank AS. The process is expected to attract various investors, including both domestic and international entities, interested in the bank's growth and market position.

The bank's strong client base and the strategic retail network of Coop Eesti are expected to continue driving its success, even as the ownership dynamics shift. The sale of shares is a testament to the ongoing evolution of the banking sector in Estonia, where partnerships and strategic investments play a crucial role in the industry's development.