The final outcome of the Finnish Rauma retail offering

Archive 27.5.1997 0:00 EEST

The number of subscriptions in the Finnish Rauma retail offering exceeded fivefold the number of originally offered 300,000 shares. UPM-Kymmene has confirmed the final number of retail offering to be 990,000 Rauma Oy's shares.
UPM-Kymmene has decided to distribute the retail offering shares as follows. All the UPM- Kymmene and Rauma Oy shareholders, who have made a subscription of 250 shares at the very most, will receive the whole number of shares of their subscription. Those investors, other than shareholders, who participated in the retail offering with a subscription of a maximum of 100 shares, will as well receive the total number of shares subscribed. Of subscriptions exceeding the above numbers of shares and of all subscriptions made in the retail offering, approximately 17 per cent was approved.
The subscribed shares will be taken into the investors' book entry accounts latest on May 28, 1997. A letter confirming the approved number of shares will be sent to all participants of the retail offering.
In the many times oversubscribed Global Share Offering the shares were allocated in relation to the geographical demand.
UPM-Kymmene sold in the two offerings a total of 13.065 million shares, of which to Finland and other Nordic countries 31 per cent, North America 27 per cent and to the rest of the world 42 per cent.