Finnish government reduce ownership in Kemira - Oras Invest become major shareholder

The Republic of Finland today sold 40,097,420 shares of Kemira Oyj and as a result its share capital and voting rights in Kemira Oyj has decreased to 16.52%.

The buyers were Oras Invest Oy, Varma Mutual Pension Insurance Company and Ilmarinen Mutual Pension Insurance Company. This results in Kemira’s main shareholder being the Finnish, family-owned company, Oras Invest Oy and its owners, members of the Paasikivi family. Oras now owns 17.1 per cent of Kemira’s share capital (see announcement).

The split of the Finnish government shares was as follows:

• Oras Invest Oy 15.60% (share capital and voting rights): 19,507,020 shares. This addition took their total share capital and voting rights to 17.1%.
  
• The Republic of Finland 16.52% (share capital and voting rights): 20,656,500 shares
• Varma Mutual Pension Insurance Company 9.6% (9.71% share capital and voting rights): 12,144,862 shares
  
• Ilmarinen Mutual Pension Insurance Company 5.3% (5.32% share capital and voting rights): 6,657,796 shares
• Kemira Oyj's share capital comprises 125,045,000 shares which carry a total of 125,045,000 votes.

For the full announcement, see the Kemira web site.