The red-hot stock market Friday took the general index of the Helsinki Stock Exchange far from the magical 10,000 point mark. The general index OMXHPI ended up with a 2.5 percent decrease to 9,656.59 points. The course calculation was broad-based, regardless of market or sector. Only twenty companies fought for positive development.
The weak US economic figures are now pointing towards a recession. Shortly after the closing of the Helsinki stock exchange, the S&P 500 index of the largest US companies was down 2.4 percent, the Dow Jones was down 2.3 percent, and the technology index Nasdaq was down 2.8 percent.
The most traded company in Helsinki was Nordea, whose share fell by about 3.2 percent. He was the hardest riser Norrhydro Group, whose share rose by around 8.3 percent. Kovi was the hard counter, on the other hand Forest Boardwhich decreased by 7.8 percent.
A new twist in the Purmo saga
Purchasing consortium Project Grand Bidco Limited announced that it would implement the offer From Purmo. At the same time, the consortium will start the subsequent offer period for the remaining shares, states the stock exchange release.
The current principal owners of Purmo are involved in the purchase consortium Rightfully so and a US venture capitalist Apollo.
The offer consideration will be paid to each Purmo shareholder on approximately August 16, 2024. The buyer consortium is acquiring the Purmo shares at a price of EUR 11.06 per share.
In order to also offer the remaining shareholders the opportunity to accept the purchase offer, the offeror has decided to start a subsequent offer period. The offer period starts on August 5 at 9:30 a.m. and ends on August 19 at 4:00 p.m.
Another willing Purmo buyer Haier had to withdraw from the competition when it could not persuade the Rettigs to accept its own offer of 13.59 euros per share.
Green light from the Financial Supervisory Authority
Purchasing consortium Good luck Bidco said it would start a voluntary recommended public cash takeover offer for all Innofactorin of shares on August 5, 2024.
The Financial Supervisory Authority has today approved the consortium’s tender document in Finnish.
Form the consortium CapManin Growth Equity Fund III -rahasto, Osprey Capital and the founder, CEO and board member of Innofactor Sami Ension holding company Ensio Investment Group.
The offer period for the purchase offer starts on August 5th at 9:30 a.m. and ends on September 16th at 4:00 p.m. The offer consideration is EUR 1.68 per share.
“Currently, the purchase offer is expected to take place at the end of the third quarter or the beginning of the fourth quarter of 2024,” the release states.
The acquisition of Valmet was completed
Engineering works Training said that he had finished specializing in wood processing solutions for the Brazilian pulp industry Demuth-company’s acquisition.
According to Valmet, the turnover of Demuth, which owns two factories, is around 20–30 million euros per year and the company employs around 400 people.
Industrial serial combiner Boreo appointed Jesse Petäjän as the company’s new CFO from the beginning of September.
He has led Boreo’s acquisition activities since 2021, served as a member of the group’s management team since 2022, and from the end of 2023 was responsible for acquisitions and the Technical Trade business area by Richard Karlsson with.
Credit losses on the rise
Asset management bank Actian operating income was 76.7 million euros in April–June. In the same period last year, they were 70.3 million euros. Information service Factsetin analysts expected an average of 76.4 million euros in operating income.
Loan loss provisions increased slightly compared to the comparison period of the previous year, but remained moderate, according to the company. A significant portion of the income comes from net interest income, which rose to 38.8 million euros from 33.8 million euros in the comparison period.
A software company The QPR Software turnover fell to 1.5 million euros in April-June from 1.9 million euros in the comparison period last year. The operating loss was 0.1 million euros, while the corresponding figure in the comparison period was -0.2 million euros.
“The company’s turnaround is progressing according to plans. The market is showing signs of recovery”, comments the CEO Heikki Veijola in the bulletin.
A complete turnaround in profitability required two years
Selling drilling equipment Do fell short of expectations in its semi-annual report published on Friday. The company’s operating result in the second quarter was 0.7 million euros, while Inderes’ analyst forecast was 1.1 million euros. Operating profit increased from the comparison period, when it was zero.
The instructions were kept unchanged. Robit expects turnover and comparable profit before interest and taxes in euro terms to increase from 2023.
The IT service company that will announce its semi-annual report on August 22 Solteq gave preliminary information about its second quarter result. Comparable EBITDA improved to 0.6 million euros from -1.3 million euros and comparable operating profit to 0.0 million euros from -2.1 million euros.
“A complete turnaround in profitability has required two years from us, during which we have renewed our business strategy, streamlined our operations and implemented group-wide cost-saving programs”, CEO Aarne Aktan comment.
Source: www.arvopaperi.fi
