Cooperative KPY plans listing on Nasdaq First North

The Kuopio-based cooperative KPY is planning an initial public offering and the listing of its shares on the Nasdaq First North Growth Market Finland marketplace, Yle reports.

Founded in 1883, KPY is a Finnish investment company structured as a cooperative, owned by around 19,000 members. Its broad ownership base stems from its history as a regional telephone association.

The planned offering will consist exclusively of new shares. Funds raised are intended for anchor investments in funds, development projects for infrastructure and balance-sheet investment targets, as well as expanding fund operations and working capital. Existing owners will not sell their shares in the offering.

KPY’s strategy is built on three investment portfolios: infrastructure, private equity, and balance-sheet investments.

Tags: KPY, IPO, Nasdaq First North