We advised the State of Finland as the sole selling shareholder in the initial public offering (“IPO”) of Altia Plc. This marks the first time in two decades that the Finnish Government has privatised a company via listing it on the stock exchange.
The IPO consisted of a share sale with a total value of EUR 172.5 million and a personnel issue to the employees of the company. Trading on Altia’s shares commenced on 23 March 2018. As a result of the share sale and the listing, the State of Finland now owns approximately 36% of Altia’s shares.
Altia is a leading Nordic alcoholic beverage company operating in the wines and spirits markets in the Nordic countries, Estonia and Latvia. Altia produces, imports, markets, sells and distributes beverages under both its own brand and partner brands. Altia’s net sales in 2017 were EUR 359.0 million, and the company employs approximately 700 professionals.