|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||22.82 - 22.99|
|52-week range||19.82 - 26.75|
|Beta (5Y monthly)||0.78|
|PE ratio (TTM)||20.23|
|Forward dividend & yield||1.43 (6.20%)|
|Ex-dividend date||19 May 2023|
|1y target est||N/A|
The board of Finnish insurer Sampo on Wednesday proposed spinning off life insurance subsidiary Mandatum, the group said in a statement. Sampo last year said it considered listing Mandatum separately as it would be a logical step in Sampo's strategy to focus on property and casualty insurance. "The division would create a leading Nordic, purely non-life insurance group capable of delivering high and stable returns on capital," Sampo Chair Bjorn Wahlroos said in the statement.
The group's profit before tax fell 67% to 390 million euros ($418.43 million) in the quarter, missing analysts' 553-million-euro estimate in a company-provided poll. Sampo also said it expected to conclude the strategic review of its Mandatum unit by the end of March, with all options including a possible spin-off via a separate listing still open. The group said in December it was reviewing the ownership of Mandatum, which offers life insurance, wealth management and asset management, as part of its plan to refocus its business towards property and casualty (P&C) insurance.
Saxo Bank could give its external investors a new chance to cash in, including via an initial public offering (IPO), as early as this year, CEO Kim Fournais told Reuters, after plans to merge with a blank-cheque company collapsed last month. "There's always been a wish to eventually do a listing of Saxo," said Fournais, adding that the bank is in no rush to float while market turmoil persists. Nasdaq Copenhagen would likely be the preferred venue for a float, he said.
STOCKHOLM (Reuters) -Finnish insurer Sampo said on Wednesday it would list its shares in Stockholm on top of its trading in Helsinki to attract more investors, and reported a quarterly profit drop. While Sweden is Sampo's biggest market, only about 5% of the company's investors are based there, Chief Executive Torbjorn Magnusson told Reuters in September when the company first said it was considering a Stockholm listing. "The board believes that a dual listing in Stockholm offers significant potential for increased demand for Sampo shares, particularly among Swedish domestic and index funds, and higher liquidity over the medium term," Chairman Bjorn Wahlroos said.