Finnish government to list Altia Plc on Helsinki Stock Exchange
The Finnish government will arrange a sale of shares and a stock market listing in which shares of Altia Plc, the Nordic countries' leading alcoholic beverage company operating in the wines and strong alcoholic beverages market, will be offered to the public and the shares listed on the Helsinki Stock Exchange. A press conference will be held today, Friday 23 February at 11.00 a.m. at the Helsinki Stock Exchange, Fabianinkatu 14. At the event, Minister of Economic Affairs Mika Lintilä and Altia's management will comment on the matter.
Altia, wholly owned by the State of Finland, has been operating independently in an internationally competitive environment for years. The listing is a natural next step in the company's growth and development in Finland and abroad.
The listing will give the company better opportunities to meet the challenges of continually intensifying competition. It will facilitate the company's access to capital markets, broaden the company's ownership base, provide the public with an opportunity to invest in the company, and will enhance the transparency of the company's business as well as the company's recognition and stakeholder interest.
On completion of the listing, the State of Finland will retain at least one third of the company's shares. The government also feels it is important for the Finnish public, domestic and foreign institutions, the company's personnel and the company's extensive cooperation network to acquire interests in the company.
"After a break of two decades, the state owner will once again be able to offer a development path via listing. The decision to create for Altia better growth and development opportunities is a timely act by a responsible owner. All Finns will now have the possibility of owning a stake in a growth story founded on Finnish raw materials. I have full confidence in the company's management, robust finances and good governance in implementing the listing and operating as a listed company," says Minister of Economic Affairs Mika Lintilä, who is responsible for ownership steering.
Altia's operations are based on barley produced by Finnish farmers, pure Rajamäki groundwater and domestic production. The Koskenkorva plant is an essential part of the company's business and the company also has an extensive network of contract farmers and a large number of other Finnish partners.
The Finnish government announced in October 2017 that it was studying the possibility of listing Altia Plc on the Helsinki Stock Exchange. Implementing the study was the responsibility of the Ownership Steering Department of the Prime Minister's Office, which is also responsible for the ownership steering of Altia Plc.
Altia is the Nordic countries' market leader in wines and strong alcoholic beverages, measured by volume. Altia operates in the Nordic countries, Estonia and Latvia. It also has production in Cognac, France, and it exports to around 30 countries. The company aims to promote a modern, responsible Nordic drinking culture in its operating countries.
Mika Lintilä, Minister of Economic Affairs; Markku Rajala, Special Adviser, [email protected], tel. +358 295 047 480, Ministry of Economic Affairs and Employment
Jyrki Knuutinen, Director General, [email protected], tel. +358 295 160 215, Prime Minister's Office
Jarmo Väisänen, Senior Financial Counsellor , [email protected], tel. +358 295 160 162, Prime Minister's Office