State Solidium, which manages stock market holdings, is putting its entire holding in the chemical company Kemira up for sale. Solidium owns about five percent of the company, about 7.8 million shares. Monday’s closing price was 17 euros, which would make the value of the deal a good 130 million euros.
In the share sale, shares are offered to Finnish and international institutional investors in an accelerated bidding procedure. Solidium uses the proceeds from the sale mainly for general financing needs.
Solidiun estimates that it will announce the final result of the sale on Tuesday.
Kemira manufactures chemicals for water purification and industrial use, including for the needs of the pulp and paper industry.
The value of Solidium’s entire investment portfolio is around 7.2 billion euros, so Kemira’s share of it has been quite small. In addition to Kemira, Solidium is a minority owner in 12 other listed companies.