UPM has successfully completed the accelerated bookbuilt offering of 19,922,115 shares of Metso Corporation for international investors. The shares were sold at EUR 14.30 per share. UPM will receive a total of EUR 285 million from the sale and it will book approximately EUR 90 million as taxfree capital gain after operating profit during the first quarter of 2005. Enskilda Securities and UBS Investment Bank were bookrunners of the offering.
Following the placement, UPM will no longer hold any shares of Metso.
For more information, please contact:Mr Kari Toikka, CFO, UPM, tel. +358 2041 50014
UPMCorporate CommunicationsMarch 8, 2005