Sampo plc Secures Approval for Nasdaq Copenhagen Listing
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Sampo plc: Admission to trading and official listing on Nasdaq Copenhagen approved
Sampo plc ("Sampo") has submitted an application for the admission to trading and official listing of its A shares on Nasdaq Copenhagen A/S ("Nasdaq Copenhagen") and has received approval from Nasdaq Copenhagen for the application, conditional upon the completion of the recommended public exchange offer to acquire all outstanding shares in Topdanmark A/S ("Topdanmark") not already owned by Sampo (the "Offer").
Benefits of Dual Listing
A dual listing in Copenhagen offers current Topdanmark shareholders and potential new Danish investors an opportunity to own Sampo shares in their local market and currency in the long term. Initial discussions indicate strong demand among Danish investors, says Torbjörn Magnusson, Group CEO, Sampo.
Approval Details
With Nasdaq Copenhagen’s conditional approval, Sampo deems the conditions for the Offer regarding admission to trading and official listing of Sampo's A shares on Nasdaq Copenhagen as satisfactorily met.
This follows Sampo's previous announcement regarding the publication of a prospectus and the Offer Document for the Offer. The documents are available on Sampo's website.
Expected Trading Dates
Subject to the completion of the Offer, Sampo A shares will be admitted to trading and official listing on Nasdaq Copenhagen. The first day of trading is anticipated soon after the completion of the Offer and subject to any extensions of the offer period. The admission is expected to occur under the existing ISIN code for Sampo's A shares, FI4000552500, and under the symbol "SAMPO DKK". Sampo's A shares will also continue to be listed on Nasdaq Helsinki.
Offer Timetable
The following timetable highlights key dates related to the Offer:
- Commencement of the Offer Period
- Expected expiration of the Offer Period
- Expected publication of preliminary results of the Offer
- Expected announcement of final result of the Offer
- First day of trading and official listing of Sampo A shares on Nasdaq Copenhagen
- Expected day for settlement of the Offer by way of exchange of Topdanmark shares for new Sampo A shares
Advisors Involved
Sampo is being advised by Goldman Sachs International as lead financial advisor and Nordea Danmark as financial advisor. Plesner Advokatpartnerselskab and Hannes Snellman Attorneys Ltd serve as legal advisors.
Company Background
Sampo Group is a prominent P&C insurer in the Nordic region, dedicated to providing a range of insurance products to diverse customer segments. The Group reported substantial annual gross written premiums and significant profit before taxes in 2023, showcasing its strong market position.
Frequently Asked Questions
What is the significance of Sampo's listing on Nasdaq Copenhagen?
The listing allows Danish investors to hold Sampo shares locally, potentially increasing investment in the company.
How will the exchange offer for Topdanmark shares work?
Topdanmark shareholders will be able to exchange their shares for new Sampo A shares as part of the Offer, following outlined conditions.
What is the expected timeline for Sampo shares trading?
The first trading day for Sampo A shares is expected to happen shortly after the completion of the Offer, subject to regulatory approvals.
Who are Sampo's advisers?
Sampo's advisers include Goldman Sachs International and Nordea Danmark among others, providing financial and legal guidance during the process.
What are Sampo's recent financial results?
In 2023, Sampo reported significant gross written premiums and a substantial profit before taxes, reflecting its strong performance in the insurance market.
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