STOCK EXCHANGE: Opening in Helsinki – Trainers House’s stock split caused confusion

The new trading week began on the Helsinki Stock Exchange in a downward trend. After about 15 minutes of trading, the stock market’s general index fell 0.7 percent to 11,220 points.

The most traded share in the morning had fallen by 1.3 per cent to EUR 9.46 Nordea.

Evli and Fellow Finance’s merger completed

Married Pankin and Fellow Finance the mutual merger was completed during the weekend and trading in the companies’ shares began. Evli Bank will be officially known in the future Evli ja Fellow Finance Fellow Bank.

In connection with the merger, the stock exchange saw a special situation on Friday in which some investors did not seem to understand the real value of Evli’s share due to the completion of the merger. As a result, trading in Evli’s shares was suspended on the stock exchange at noon throughout the last Friday.

After 15 minutes of trading, Evli’s share was quoted at EUR 18.78 and Fellow Bank’s share at EUR 0.52.

Trainers House in turn, today carried out a reverse split of its shares. Ten of the company’s old shares have been merged into one share after the reverse share split. The market value, which takes into account the company’s split, fell momentarily when the stock exchange opened for about a quarter, but leveled off soon after.

After about 15 minutes of trading, the company’s share was traded at a 4.3 percent decline of EUR 9.00. In the morning, some trades were made in the company’s shares at a price of EUR 7.00 each.

Admicom started a new earnings season

The Helsinki Stock Exchange ‘s first quarter earnings season began today, when Admicom published its January-March results shortly after the stock market opened. Admicom’s net sales rose to 7.3 million and operating profit to 2.7 million euros.

ON fell in the morning Scanfilin target price of 8.20 euros (formerly 8.30 euros) and its recommendation level (formerly buy).

Scanfil’s shares were traded for 0.5% to EUR 7.88.

By Editor

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