Aspo reviewing preconditions for listing Leipurin on the Helsinki stock exchange
(Thomson Reuters ONE) -
ASPO Plc Stock Exchange Release November 27, 2013 at 8:30 a.m.
The board of Aspo has decided review the preconditions for listing Leipurin Ltd,
fully owned by Aspo, on the Helsinki stock exchange. The goal of Aspo would be
to remain the minority owner of Leipurin Ltd.
Aspo is a conglomerate that owns and develops the strongest companies in its
fields of business. The development of Aspo's group structure and related
structural changes are an essential part of the company's strategy. The goal of
all structural changes is always to create value to Aspo shareholders.
"Aspo has lots of good experiences on structural changes in accordance with the
strategy. We have acquired large business functions and developed them to make
them more valuable, and have also freed up capital by divesting business
functions. Our view is that Leipurin has reached a stage where listing would be
the strategically best option. At the same time, we consider listing as the best
choice in order to increase Aspo's shareholder value," says Aki Ojanen, CEO of
Aspo.
Leipurin has grown profitably during the last five years. In Aspo's ownership,
Leipurin has also expanded substantially on the eastern market. Just in Russia,
the company has offices and warehouses in 13 cities, covering all the economic
areas of the country.
"We estimate that the current size, profitability and structure of Leipurin is
such that it could operate as a separate unit and finance its future growth on
its own. In addition, we are confident that an independent Leipurin Ltd will
appeal to investors. Through the listing, the solid position of Leipurin on the
eastern market would become more transparent. Our view is that the company still
has extensive growth opportunities, and that is why the goal of Aspo would be to
remain the company's minority owner," says Ojanen.
"If the listing is realized, it would be possible for Aspo to take the next step
forward. With the capital obtained from the possible listing of Leipurin Ltd, it
would be possible for us to develop our existing brands more powerfully and to
invest in new business functions when necessary. The goal of all structural
changes is to provide our shareholders with more value," says Gustav Nyberg,
Chairman of Aspo board.
When the results of the review are complete, Aspo will issue a separate stock
exchange release on them. If realized, the listing could take place in the next
few years, depending on the market situation.
ASPO Plc
Aki Ojanen
CEO
More information:
Aki Ojanen, CEO, Aspo Plc
Gustav Nyberg, Chairman of the Board, Aspo Plc
Interview booking and call requests, Hilkka Jokiniemi, tel. +358 40 7595925
Aspo is a conglomerate that owns and develops business operations in the
Northern Europe and growth markets focusing on demanding B-to-B customers. Our
strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim
to be the market leaders in their sectors. They are responsible for their own
operations, customer relationships, and the development of these. Together they
generate Aspo's goodwill. Aspo's Group structure and business operations are
continually developed without any predefined schedules.
Leipurin serves the bakery industry and other food industry by providing product
development services, raw materials needed for baking, and equipment from
individual machines to full-scale baking lines. Leipurin operates in Finland,
Russia, the Baltic countries, Poland, Ukraine, Belarus, and Kazakhstan.
Leipurin's net sales in 2012 amounted to EUR 131.1 million and operating profit
EUR 4.0 million.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aspo Oyj via GlobeNewswire
[HUG#1745985]
Unternehmensinformation / Kurzprofil:
Datum: 27.11.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 320668
Anzahl Zeichen: 4548
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Aspo reviewing preconditions for listing Leipurin on the Helsinki stock exchange"
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