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Why invest in Sampo?
IR Blog provides information about Sampo as an investment case and the Group's businesses and markets.
Sampo has today initiated an evaluation of a dual listing of its shares on Nasdaq Stockholm. In this blog entry we address the main questions regarding the potential listing.
Stockholm is the largest and most liquid market in the Nordic region, and Sampo has natural connections to Sweden via If P&C. However, Swedish shareholders hold only approximately 5 per cent of Sampo’s shares.
As a large cap P&C insurer, Sampo would be a unique asset on Nasdaq Stockholm – a resilient financial, with strong pricing power and positive interest rate gearing. A Stockholm listing could make available new pockets of demand for Sampo shares, such as Swedish funds, and would therefore benefit existing shareholders as much as potential new owners.
The potential dual listing would not affect Sampo’s operational presence in Finland or the share’s listing on Nasdaq Helsinki.
At this stage, the option to list is being evaluated by Sampo’s Board of Directors. Should the Board decide to proceed, the trading on Nasdaq Stockholm could start during the fourth quarter.
There is no plan or need of issuing new shares. Sampo has excess capital that is currently being returned to shareholders via share buybacks.
The incremental costs would be very limited as Nasdaq has largely harmonised regulation across the Helsinki and Stockholm exchanges.
The potential dual listing would not require any action from Swedish shareholders as it would not impact Sampo’s listing in Nasdaq Helsinki.
The potential dual listing would not affect Sampo’s Finnish shareholders in any way. Finnish shareholders (natural or legal persons) are not allowed to own Finnish-domiciled companies through nominee-registration, or other similar, comparable structures. Thus, they could not own Sampo through the Stockholm stock exchange.
Investor Relations Manager, Sampo plc