STOCK EXCHANGE: The Helsinki Stock Exchange opened up – Heeros’ share in flight with the takeover offer

After a while of trading, the stock exchange’s general index was up 0.2 percent at 9529.09 points.

By the time of review, the most traded stock of the morning was an online company Nokiawhose share weakened by 0.8 percent to 3.93 euros. From the list of the twelve most traded stocks, most were in an upward direction.

In the morning, among others, the energy company Fortum, whose share weakened by 1.0 percent to 14.36 euros, was on the decline.

At the top of the rise was a developer of SaaS business software Heeroswhose share rose 46.7 percent to 5.40 euros.

Financial and human resources management software solutions provider Accountor Softwarebelonging to the group Accountor Finago has made a purchase offer for Heeros, which was announced on Friday before the stock market opened.

The company offers all Heeros shareholders EUR 5.58 per share, which is about 51.6 percent higher than yesterday’s closing reading of EUR 3.68.

Accountor Software expects the purchase offer to be completed in the first quarter of next year. According to the release, significant shareholders and part of Heeros’ management have already accepted the offer.

Wetter’s profitability under pressure

Car trading company Wetteri announced its third quarter interim report on Friday. Wetter’s net sales grew in the third quarter, supported by corporate restructuring. Profitability decreased, which the company justified by the difficult market situation.

Wetter’s turnover increased to 119.6 million euros during July–September. At the same time a year earlier, Wetter’s turnover was 110.3 million euros. Inderes, which follows the company, expected turnover to grow to 147.0 million euros.

The company’s adjusted operating profit weakened to 2.1 million euros during the third quarter. In the comparison period, the adjusted operating profit was 3.3 million euros. Inderes expected adjusted operating profit to grow to 3.8 million euros.

After a short period of trading, Wetter’s share was down 3.3 percent at EUR 0.385.

Developer of biodegradable orthopedic implants Bioretec announced that it has signed a new sales and distribution agreement with Tri-State Biologics. It is a New Jersey-based distributor of medical and surgical products with 18 sales representatives.

According to the company, the agreement enables smooth sales and distribution of implants and instruments to hospitals in New York, Philadelphia, New Jersey, Connecticut and Massachusetts.

Bioretec’s share was up 4.1 percent at 1.895 euros.

Rush Factory, which organized obstacle course events, said on Friday that its wholly owned subsidiary Funrun Finland Oy has been declared bankrupt by pension company Ilmarinen. According to the release, the subsidiary’s bankruptcy has no direct impact on Rush Factory’s business, as the same Color Obstacle Rush event tour will not be held in the next event season.