State sells 12 million shares in Outokumpu

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According to a statement issued by the Ministry of Trade and Industry today, the State of Finland is selling 12 million shares in the international stainless steel company Outokumpu to Finnish and international institutional investors.
      The offering has been launched as an accelerated book-building, and the manager of the offering is UBS Investment Bank. The value of the shares is around EUR 300 million.
     
In an interview with the Finnish financial daily Taloussanomat, Arto Honkaniemi from the Ministry of Trade and Industry comments that the arrangement follows the positive development of the company's share value, offering the state an opportunity to take advantage of favourable market conditions for the benefit of the Finnish taxpayers.
      Currently, the Finnish State has shareholdings in 50 companies, and the value of these stakes is around EUR 20 billion.


Links:
  Ministry of Trade and Industry press release (15.11.2006)

Helsingin Sanomat