Solidium’s ownership in Kemira Oyj now 16,67 %
The €200 million rights issue of Kemira Oyj has been fully subscribed. Solidium subscribed for 5 239 587 new shares in the rights issue with in aggregate of € 34 581 274.
Solidium subscribed for new shares with its pro rata entitlement and subscribed for new shares in the secondary offering. Solidium owns currently 25 896 087 shares in Kemira and its ownership in the company is 16,67 % of the shares and votes post-issue (16,52 % pre-issue).
“Solidium supports Kemira’s growth in water chemical business. Following the share issue, Kemira is able to decerase its net debt and to increase flexibility in Tikkurila’s listing”, says Kari Järvinen, managing director of Solidium.
The four largest shareholders of Kemira, including Solidium, have given approximately €146 million subscription and underwriting commitments in connection with the rights issue. As the rights issue was fully subscribed, Solidium did not subscribe for any new shares based on the underwriting commitment.
Kemira is focused on serving customers in water-intensive industries. The company offers water quality and quantity management that improves customers’ energy, water, and raw material efficiency. Kemira’s vision is to be a leading water chemistry company. Its turnover in 2008 was some €2.8 billion and its operating profit, excluding non-recurring items, amounted to €133 million. On 30 September 2009, Kemira group employed around 8,600 people in 40 countries.