Finland's Sampo proceeds with dual listing in Stockholm to attract more investors (updated)
02/11/2022 07:44
(Adds detail, background)
STOCKHOLM, Nov 2 (Reuters) - Finnish insurance group
Sampo SAMPO.HE on Wednesday said it would list its shares on
the Stockholm bourse, on top of its trading in Helsinki, as the
company seeks to attract more Swedish investors.
While Sweden is Sampo's biggest market, only about 5% of the
company's investors are based there, Chief Executive Torbjorn
Magnusson told Reuters in September when the company first said
it was considering a Stockholm listing.
"The board believes that a dual listing in Stockholm offers
significant potential for increased demand for Sampo shares,
particularly among Swedish domestic and index funds, and higher
liquidity over the medium term," Chairman Bjorn Wahlroos said.
Sampo said in a statement it aimed for shares to start
trading on Nasdaq Stockholm, the Nordic region's biggest stock
market, in the second half of November.
The company's share price is up 10% year to date,
outperforming a 17% drop in Helsinki's benchmark index, as it
benefits from rising global interest rates which are boosting
the long-term profit outlook for insurers.
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74))