A record number of Finnish telecom- and technology oriented companies have recently conducted initial public offerings and sought listing on the Helsinki Exchanges. Within March and April alone, four companies in the hi-tech branch carried out IPOs, and subsequently were listed on the Exchange.

TJ-Tieto, a leading Nordic software company, sought NM-listing of its shares in the beginning of March 1999. Prior to the listing an initial public offering consisting of a secondary and primary offering took place. The reason for the listing was to create a new source of financing to enhance TJ-Tieto's growth and geographical expansion and to broaden the shareholder base of the company to cover Finnish and international investors, and to create an incentive system for the employees of the company.

EIMO Oyj, a producer of technically demanding precision moldings, decided to begin the initial public offering and the sale of its A-shares on 8 March. Subsequently, EIMO's A-shares were listed on the Helsinki Exchanges Main List. "Listing is a natural step in the development of a fast growing EIMO," states the company's Chairman of the Board Mr. Jalo Paananen.

The Finnish IT-company Teleste Corporation, specialised in broadband data communications, commenced a combined sale and offering of the company's shares on 16 March. Subsequent to the offering the Board of Directors of Teleste, applied for the trading of the company's shares on the Prelist on 30 March and on the Main List on or about 6 April 1999.

Stonesoft Corporation, a Finnish company in the network security branch, decided to begin listing preparations for an IPO, and to apply for listing on the Helsinki Exchanges I-list on 8 March. The listing is intended to create a financial source that supports the growing business activity, possible acquisitions and product development. Further reasons for the listing are to expand the shareholder base, and to create a rewarding incentive scheme for the employees.

This article contains general information on the subject matter and shall not be relied upon for a specific case. Specialist advice should be sought with respect to any specific circumstances.