Suominen Oyj - to receive gross proceeds of approx EUR 28 mln from offering

Suominen Corporation (HEL:SUM1V) has announced that it has completed a fully underwritten rights issue aimed at raising approximately EUR 28 million in gross proceeds. The offering, approved by the company’s Board of Directors on 8 June 2026 following authorisation by an extraordinary general meeting, involved 77,121,272 new shares at a subscription price of EUR 0.36 per share. The subscription period ran from 15 June 2026 to 29 June 2026, with preliminary results published on 30 June 2026 and the final results expected by 2 July 2026.

The funds raised through the offering are intended to support the company’s strategic Full Potential Program, a three-year initiative launched on 29 January 2026 to enhance profitability and operational efficiency. The program includes targeted investments in low-risk assets, structural cost reductions, and improvements in production and procurement processes. Additionally, the capital will be used to strengthen Suominen’s overall capital structure.

The rights issue was supported by the company’s major shareholders, including Ahlstrom Capital B.V. and Etola Group Oy and Oy Etra Invest Ab, who collectively hold approximately 49.02% of the company’s shares. These shareholders have committed to subscribing for their pro rata share of the new issue and have also provided subscription guarantee commitments covering any unsubscribed shares.

Danske Bank A/S, Finland Branch, and Nordea Bank Abp served as joint global coordinators for the offering. The subscription rights were traded on the Helsinki Stock Exchange between 15 June and 23 June 2026, and new shares begin trading on or around 6 July 2026.

The offering’s subscription price of EUR 0.36 represented a 45.1% discount to the theoretical ex-rights price, based on the closing price of Suominen’s shares on 5 June 2026. The company has also negotiated a two-year extension to its syndicated credit facility and additional flexibility in its financial covenants, contingent on the successful completion of the offering.

Suominen, a manufacturer of nonwovens used in wipes and other applications, reported net sales of EUR 412.4 million in 2025 and employs nearly 700 professionals across Europe and the Americas. The company’s shares are listed on Nasdaq Helsinki.