Cobalt is reporting that it and Baker McKenzie have been chosen as legal advisor to the Port of Tallinn's on its initial public offering.
According to Cobalt, its joint bid with Baker McKenzie was selected from eight such offers. The firm reports that “our role will be to advise the Port of Tallinn in all aspects related to the IPO, including preparation of corresponding documentation plus a prospectus. The Estonian government has decided to float up to 30% of the shares in the state-owned Port of Tallinn and list the shares on Nasdaq Tallinn by the end of the first half of 2018 at the latest. The Port of Tallinn is the biggest port authority in Estonia and in terms of both cargo and passenger traffic the biggest port on the shores of the Baltic Sea.