Altia, a wholly state-owned importer, exporter and producer of strong alcoholic beverages, has confirmed its plans to list on the Helsinki Stock Exchange.
Kauppalehti reports that the initial public offering will consist of an issue of existing shares by the state and an issue of new shares to employees of the alcohol producer. The objective of the listing is to improve the operational preconditions and increase the transparency of the operations of Altia.
The listing will see the state reduce its stake in the alcohol producer to no lower than 33 per cent, according to the commerce-oriented newspaper.
“All Finns now have an opportunity to own a share of a growth story founded on home-grown ingredients,” commented Mika Lintilä (Centre), the Minister of Economic Affairs.
Lintilä, who is the cabinet member responsible for ownership steering issues, added that he has full confidence in the ability of the management and administration of the state-owned company to carry out the listing and operate as a listed company. He also echoed the assessment that the listing will enhance the growth and development possibilities of Altia.
Altia has identified home-grown barley, groundwater reserves and production as the foundation of its operations. The state-owned alcohol producer reported net sales of 359 million euros in 2017.
Aleksi Teivainen – HT
Photo: Emmi Korhonen – Lehtikuva
Source: Uusi Suomi