The Underwriters used their overallotment option of Rauma shares

Archive 22.5.1997 0:00 EEST

The Underwriters of Rauma offerings have used their overallotment option of a further 1.575 million shares. After the overallotment option, the number of shares offered to institutional investors totals 12,075,000 shares.
In the offerings and redemption of shares for cancellation, UPM-Kymmene sold a total of 14,065,000 Rauma shares. UPM-Kymmene received total net proceeds of over FIM 1.5 billion from the offerings and redemption. The sale gave rise to a capital gain of about FIM 800 million.
After the arrangements, UPM-Kymmene's holding in Rauma Oy is 34.5 per cent.