TALLINN — The Estonian frozen food giant Premia Food announced Thursday that it plans to sell 14.5 million stock shares at the NASDAQ OMX Tallinn exchange to raise €15 million.

The stocks are about 37.5 percent of the company’s stock capital and will be sold at a range of 12.80 (€0.8) to 16.20 krooni (€1). All those interested can make their offer starting from April 22 to April 29. The final price of the offer will be disclosed on May 3.

Trading at NASDAQ OMX Tallinn will begin May 5. Premia Foods estimates to earn €15 million from the deal, which it plans to use on enlarging the company’s activities in St. Petersburg, Russia.

The company reported €68.7 million turnover for 2009, decreasing by 11 percent compared to the previous year. Nevertheless, the company’s pre-tax profit increased by 21.9 million krooni (€1.3 million) to 97.1 million krooni (€6.2 million).