Investors show strong interest towards Altia’s shares

There was strong interest towards Altia Plc’s share sale among both domestic and international investors, especially among the Finnish general public.

Approximately 16,500 private individuals and entities submitted a subscription commitment in the public share sale, said a government press release.

In the institutional share sale, subscription commitments were received not only from Finland but also from abroad, in particular from the Nordic countries and the United Kingdom.

The final sale price in the share sale is EUR 7.50 per share. The sale price was determined on the basis of the institutional investors’ subscription offers.

Altia is Finnish state-owned corporation based in Helsinki, which produces, imports, exports and markets alcoholic beverages. It operates in Finland, Sweden, Norway, Denmark, Estonia and Latvia. Altia has production plants in Koskenkorva and Rajamäki in Finland and in Tabasalu in Estonia.

In the share sale, the State of Finland is selling a total of 20,000,000 shares. In addition, there is an over-allotment option consisting of up to 3,000,000 shares associated with the share sale. On the basis of the sales offers, 6,000,000 shares will be allocated to private individuals and entities and 17,000,000 shares to institutional investors, assuming that the over-allotment option is fully exercised.

With the State’s decision, the public share sale volume was increased, due to good demand, from the preliminary 4,000,000 shares to a total of 6,000,000 shares. As a result, taking the over-allotment option into account, 26.1 per cent of shares are allocated to private individuals and entities. The subscription commitments given in the public share sale will be accepted in full up to 200 shares and for approximately 57.3 per cent of the subscription commitments exceeding this amount. The majority of private individuals and entities will receive the number of shares they have subscribed.

After the share sale and the listing, the State of Finland will own approximately 36 per cent of Altia’s shares, taking the over-allotment option into account. After the share sale, private individuals and entities in Finland will own approximately 17 per cent of the company’s shares and institutional investors approximately 47 per cent, taking the over-allotment option into account.

Trading on Altia’s shares will commence on the prelist tomorrow, Friday 23 March 2018 at 10 am and the actual trading will begin on the official list of the Helsinki Stock Exchange on 27 March 2018. The institutional share sale ended and the sale price of the shares was decided on Thursday, 22 March 2018.

In October 2017, the State of Finland announced that it would investigate the possibility of listing the company’s shares and in February 2018, it announced that the listing would be carried out. From the outset, the State of Finland has considered it important that the company’s owners include the Finnish public, Finnish and foreign institutions, the company’s personnel and the company’s extensive cooperation network.