Translation: Original published in Finnish on 1/13/2025 at 7:24 am EET.

Yesterday, the arbitration court confirmed Project Grand Bidco's right to redeem the remaining Purmo shares, which resulted in the suspension of trading yesterday already before the start of the trading day. With the suspension of trading, we will also end our coverage of the stock. Our latest recommendation was Reduce and the target price was EUR 10.97 in line with the redemption price.

Trading suspended, stock likely to be delisted soon

Trading in Purmo shares was suspended yesterday after Project Grand Bidco (a consortium of Rettig and private equity investor Apollo), which made a takeover bid for the company last year, received the right to buy out the remaining Purmo shares from minority shareholders. Project Grand Bidco will receive the shares after it has provided a security approved by the arbitration court. The company's share will then also be delisted from the stock exchange. The earlier stages of the takeover bid were covered in our analysis and commentary, which remain available on our service.