Today, October 21, 2024 at 8.00 a.m., Kingspan Group PLC ("Kingspan") announced in a press release that it has acquired an additional 26.5 percent of the shares in Nordic Waterproofing Holding AB ("Nordic Waterproofing"). Together with the shares Kingspan previously owned, Kingspan's holding now amounts to 62.6 percent.
The increased ownership does not trigger any obligation for Kingspan to make a mandatory public offer for the other outstanding shares in Nordic Waterproofing. That obligation arose when Kingspan passed 30 percent ownership in September 2023. Kingspan fulfilled the obligation through the mandatory public offer made on 10 October 2023 and the acceptance period expired on 27 March 2024.
The change in ownership structure does not affect Nordic Waterproofing's listing on Nasdaq Stockholm, but the company will continue to be listed on the Mid Cap list.