Exel Composites Oyj to List 94.8 Million New Shares on Nasdaq Helsinki

Exel Composites Oyj is set to list up to 94,831,552 new shares on the Nasdaq Helsinki exchange on May 27, 2024. The new shares will be traded under the trading code EXL1VN0124 and have an ISIN code of FI4000571146.

The Finnish Financial Supervisory Authority has approved the company's rights offering prospectus, paving the way for this significant listing. The rights issue, announced on May 17, 2024, aims to raise approximately EUR 21.8 million through the offering of new shares to existing shareholders at a subscription price of EUR 0.23 per share.

The offering is based on the authorization granted by the Extraordinary General Meeting of the company held on May 17, 2024. The Finnish language prospectus will be available on the company's website, at its registered office, and on Nordea Bank Abp's website starting from May 24, 2024. An unofficial English-language translation of the prospectus will also be available on the company's website.

Key details of the listing include the trading code EXL1VN0124, ISIN code FI4000571146, and orderbook id 337861. The shares will be listed on the OMX HEL Equities CCP market segment with a MiFID II tick size table.

Why this matters:

This listing marks a significant step for Exel Composites Oyj, as it aims to bolster its financial position and support its ongoing projects. The proceeds from the rights issue will be used to strengthen the company's balance sheet and fund future growth initiatives, potentially impacting the company's competitiveness and market presence.

This listing marks a significant step for Exel Composites Oyj, as it aims to bolster its financial position and support its ongoing projects. The proceeds from the rights issue will be used to strengthen the company's balance sheet and fund future growth initiatives.

The Finnish Financial Supervisory Authority's approval of the prospectus ensures that all regulatory requirements have been met, providing confidence to existing and potential investors. This move aligns with Exel Composites Oyj's strategic objectives to enhance shareholder value and expand its market presence.

Prospective investors and stakeholders can access the official prospectus on the company's website, at its registered office, and on Nordea Bank Abp's website. The availability of both Finnish and unofficial English-language versions ensures broader accessibility and transparency.

As Exel Composites Oyj prepares for this significant listing, the company remains focused on its growth strategy and commitment to delivering value to its shareholders. The listing of these new shares on the Nasdaq Helsinki exchange marks a pivotal moment in the company's ongoing development.

For further information, interested parties can contact Nasdaq Helsinki Oy, Surveillance, at survo@nasdaq.com or +358 9 6166 7260.

Key Takeaways

• Exel Composites Oyj to list up to 94,831,552 new shares on Nasdaq Helsinki on May 27, 2024.
• Shares to be traded under code EXL1VN0124 with ISIN code FI4000571146.
• Rights issue aims to raise approximately EUR 21.8 million at EUR 0.23 per share.
• Proceeds to strengthen balance sheet and fund future growth initiatives.
• Finnish Financial Supervisory Authority approves company's rights offering prospectus.