Valmet Corp’s Listing Application Submitted to NASDAQ OMX Helsinki Ltd
Dec. 12, 2013 (Press Release) - Metso Corporation [on Dec. 11] submitted an application to NASDAQ OMX Helsinki Ltd on the listing of the shares in Valmet Corporation on the official list of the Helsinki Stock Exchange on behalf of Valmet.
Trading in Valmet’s shares on the official list of the Helsinki Stock Exchange is expected to commence on or about January 2, 2014.
The number of shares in Valmet is expected to be 149,864,619.
On October 1, 2013, the Extraordinary General Meeting of Metso decided that Metso will demerge through a partial demerger in such a manner that all of the assets, debts and liabilities relating to Metso’s Pulp, Paper and Power businesses will transfer, without liquidation, from Metso to Valmet. Metso’s other businesses, including, among others, the Mining and Construction as well as the Automation businesses, will remain with Metso.
Metso’s shareholders will receive as demerger consideration one (1) share in Valmet for each share in Metso owned. No demerger consideration will be issued in respect of own shares held by Metso. The shares in Valmet will be entered in the book-entry accounts of the shareholders on or about December 31, 2013.
The Finnish demerger prospectus approved by the Finnish Financial Supervisory Authority, together with an unofficial English translation thereof, has been available as of September 23, 2013 on Metso’s website www.metso.com/demerger.
Metso's pulp, paper and power professionals specialize in processes, machinery, equipment, services, paper machine clothing and filter fabrics. The company's offerings and experience cover the entire process life cycle including new production lines, rebuilds and services. For additional information, visit: www.metso.com
SOURCE: Metso Corp.