Mika Anttonen on Neste shares: “At least I haven’t sold yet”

The fuel company contacted by Kauppalehti St1: no owner Mika Anttonen answer the questions Liquid about sales of shares and their timing. Based on Neste’s owner lists, St1 sold Neste’s shares in February.

“It was precisely St1 that sold its entire Neste holding. My own investment company Keele as I recall, sold a very small pot of 100,000 shares last month,” Anttonen emphasizes.

“I don’t know how long I will hold on to Neste shares, but at least I haven’t sold them yet,” Anttonen adds.

According to the list of owners, the investment company Keele owns approximately 2.4 million Neste shares. Thus, Anttonen is still a significant face owner of Neste.

Anttonen does not comment on how profitably St1 sold the shares, but he himself started buying Neste shares already in the spring of 2024. During the winter and spring of 2025, Anttonen Keele bought Nestet when the share price was between 7.00 and 10.00 euros.

Anttonen can be satisfied, because Neste’s share costs 26.70 euros on Thursday morning.

Anttonen succeeded in placing

The sales are profitable because in February Neste’s share price hovered around 21 euros. At the end of February, St1 was no longer among the 70 largest owners, while at the end of January it still owned 2.03 million Neste shares.

Ownership lists show that St1 at its largest owned around 3.5 million Neste shares. Already at the end of 2025, Anttonen said that St1 sold one million Neste shares when its price rose to 20 euros.

At past price levels, the value of the share pot sold by St1 would have been 60–70 million euros. Neste’s share has been on a strong rise for about a year, and in March 2026, its price increase was at its highest around 35 percent.

The list of owners only reported at the end of last year that St1 had 0.46 percent of Neste’s shares and Keele 0.31 percent.

The Neste pot of 5.9 million shares was worth approximately EUR 110 million based on the exchange rate in December (December 18). The value of Anttonen’s holdings roughly doubled last year.

The stock rose well in March

The underlying reasons are obvious, as the price of crude oil started to rise strongly after the USA and Israel started airstrikes on Iran at the end of February. Neste’s share price has risen following oil.

It seems that St1 has timed the share sales unluckily, because in March Neste shares were traded at a price of 22–30 euros. The stock rose that much from the sales prices in February.

Kauppalehti also reached St1 Nordic’s silent CEO Henrikki Talvitien. The CEO did not answer questions about the basis for the sale of Neste’s shares, the timing of the sale, or the amount of capital gains generated in the transaction.

“We didn’t comment on the purchases of shares, so we don’t comment on their sales either. There is no reasonable need for this,” Talvitie reasons.

Talvitie urges you to follow public stock exchange and shareholder list information. They reveal the share’s prices and ownership changes in recent years.

The state owns 44.2 percent of Neste.