Finnish financial company, Sampo, has applied for its shares in Mandatum plc to be listed on the official list of Nasdaq Helsinki Ltd, as reported today. The move comes as part of Sampo's plan to separate Mandatum from the Sampo Group through a partial demerger, a proposal approved by Sampo's shareholders at their Annual General Meeting on 17 May 2023.
Subject to the approval of the application, trading in Mandatum's shares is expected to commence on the official list on 2 October 2023 under the trading code MANTA. On the effective date of the demerger, projected to be 1 October 2023, all shares in Mandatum Holding Ltd and related assets and liabilities will transfer without a liquidation procedure to Mandatum plc.
In consideration of the demerger, Sampo shareholders will receive one new share in Mandatum plc for each existing series A or series B share in Sampo plc. The new entity, Mandatum plc, will be incorporated in the demerger.
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