Finnish insurer Sampo cuts stake in Nordea
11/11/2020 06:56
STOCKHOLM, Nov 11 (Reuters) - Finnish insurer Sampo
SAMPO.HE has sold 4% of the share capital in Nordea Bank in an
accelerated bookbuild offering to institutional investors, it
said in a statement late on Tuesday.
The stake was sold at 7.25 euros per share, to be compared
to Nordea's closing price of 7.59 euros on Tuesday, and Sampo
said it would incur a 222 million euros ($262 million)
accounting loss from the transaction for the last quarter in
2020.
After the sale, Sampo remains the biggest owner in Nordea
with a 15.9% stake.
Sampo also said it had entered a lock-up undertaking,
agreeing not to sell any Nordea shares before May 9, 2021.
($1 = 0.8457 euros)
(Reporting by Johannes Hellstrom; Editing by Simon Johnson)
((johannes.hellstrom@thomsonreuters.com; +46850242388; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net))