View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 9, 2022

Finnish insurer Sampo eyes dual listing on Nasdaq Stockholm

Finland-based insurance firm Sampo is assessing the option of a dual listing of its shares on Nasdaq Stockholm with an aim to draw more Swedish investors.

Through the listing, the company also seeks to boost its share’s liquidity in Sweden.

“We’ve had some meetings with potential investors in Sweden and their interest has been great,” reported Reuters citing Sampo CEO Torbjorn Magnusson.  

Magnusson said: “This is an opportunity for Swedish domestic funds to invest in us, and gives us access to a liquid market.”

According to him, though Sweden is Sampo’s key market, only over 5% of the insurance group’s investors are based in the country.

The firm is expected to take a call on the Stockholm listing by 2022 end.

The CEO said that the decision will not affect the total number of shares.

Meanwhile, he dismissed speculations over shifting the company’s headquarters from Helsinki to Stockholm.

“We’re not contemplating moving, it’s a very Finnish company which has been incorporated in Finland since inception,” Magnusson confirmed.

Earlier this year, Sampo sold its entire stake in Finland’s Nordea Bank, following its decision to shift focus to the insurance segment.

According to Magnusson, the Nordic insurance sector has seen “significant consolidation” in recent decades.

At present Sampo’s share price is up 7% year to date following soaring global interest rates. In December last year, Sampo finalised a deal with Rand Merchant Investment (RMI) to take sole ownership of UK property and casualty insurer Hastings.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International