Estonia Potentially Undervalued Companies

Coop Pank

Market Cap: €239.3m

Provides banking and financing services to private and corporate clients in Estonia.

AS Infortar

Market Cap: €987.8m

Together with its subsidiaries operates in the maritime transportation, energy, and real estate sectors in Estonia, Finland, Lithuania, Latvia, rest of European Union, and internationally.

AS Tallinna Sadam

Market Cap: €344.0m

Provides port services in the Republic of Estonia and Canada.

AS Silvano Fashion Group

Market Cap: €41.4m

Through its subsidiaries, engages in the design, manufacturing, and distribution of women’s lingerie in Estonia, Russia, Belarus, Ukraine, the Baltics, Kazakhstan, Moldova, and internationally.

AS Pro Kapital Grupp

Market Cap: €47.1m

A real estate development company, purchases, develops, operates, manages, rents, and sells commercial and residential real estate properties in Estonia, Latvia, Germany, Lithuania, and Italy.

Liven

Market Cap: €49.9m

Engages in land acquisition, development, concept design, marketing, and sales of residential property in Estonia and Germany.

Bercman Technologies

Market Cap: €1.9m

Engages in the development and sale of smart city and mobility-related technologies and products.

AS LHV Group

Market Cap: €1.1b

Provides various banking products and services to private and business customers in Estonia and the United Kingdom.