STOCK EXCHANGE: The second half of the year got off to a flying start – the general index of the Helsinki Stock Exchange rose by more than one percent

The second half of 2024 got off to a flying start in Helsinki. Around two in the afternoon, the stock exchange’s general index was up by about 1.1 percent at 10,050.26 points.

The most exchanged share at around two in the afternoon was Nordea, which was up by around 1.6 percent with nearly 20 million shares exchanged.

The biggest gainer was a technology consulting company Solteq with an increase of about 10.1 percent and the biggest decliner is a biotechnology company Nightingale Health with a decrease of about 9.1 percent.

IT service company Tietoevry extended the schedule for the strategic evaluation and sale of the Tech Services business. Originally, the evaluation was supposed to be completed by the end of the second quarter, but now the company said that it will provide more information on the matter by the time of the third quarter results report. The company’s Q3 results announcement is on October 24. Tietoevry’s share was up by about 1.8 percent.

Kemira said he had signed the contract Noritin on the purchase of the reactivation business in Great Britain From Purton Carbons Limited June 28, 2024. This is Kemira’s first step in the activated carbon market and the removal of micropollutants.

The deal is expected to be completed during the third quarter of 2024. The turnover of the purchased facility in 2023 was several million euros. Nine employees will transfer to Kemira as part of the deal. The company’s share was up by about one percent.

Finnish companies with acquisitions

A software company Lemonsoft said that he would buy the software developer of the rental business Applirentin the entire stock and directs the issue of shares to the sellers. The purchase price is approximately EUR 2.3 million, which is paid 75 percent in cash and 25 percent in shares.

In addition, the parties have agreed on an additional purchase price, which is now based on the 2024-2026 operating profit of the company being purchased. The price in question is a maximum of 0.8 million euros, and if realized, it will be paid in full as a cash consideration.

In 2023, approximately 70 percent of Applirent’s turnover was based on continuous billing business. The transaction has no effect on Lemonsoft’s profit forecast for the 2024 financial year. Lemonsoft’s stock reacted to the news with a drop of around 2.4 percent.

They develop treatments for Parkinson’s disease Herantis Pharma tells that Michael J. Fox Foundation for Parkinson’s Research (MJFF) and Parkinson’s Virtual Biotech jointly finance Herantis’ phase 1b clinical trial and ongoing biomarker research with research funding of 3.6 million euros.

The company’s share was down about 0.6 percent.

Multidisciplinary company At least subsidiary Telko has implemented Swed Handlingin acquisition in Sweden, Aspot is told. The company announced on April 29, 2024 that Telko will expand its chemical business in Sweden by purchasing from TeRa Invest of the leading Swedish chemical distributor Swed Handling AB. Aspo’s subsidiary is also part of the deal The baker expands its food industry business in Sweden, distributor of technical raw materials Kebelcon through, which is a subsidiary of Swed Handling. The acquisition was completed today, July 1, 2024.

It was decided to pay the purchase price of Swed Handling’s shares in full with a cash consideration of 473 million kroner (approx. 42 million euros), which is subject to the usual post-implementation adjustments. Aspo’s shares are therefore not used to pay the purchase price. In addition, Telko has committed to pay an additional purchase price of SEK 0-130 million (approx. EUR 0-11 million) based on the results of 2024-2025 in cash in 2026, which depends on the development of the profitability of Swed Handling, excluding Kebelco.

Aspo’s share was down about 0.3 percent around two in the afternoon.

Kalmar’s IPO

A manufacturer of cargo handling equipment Cargotecin the division took place at the turn of the month, and the company, known for port cranes, separated from the company into its own listed company Kalmar started on the stock exchange’s main list on Monday morning. Cargotec remained the manufacturer of vehicle load handling equipment Hiab and operating in sea cargo and load handling MacGregor.

Cargotec’s closing price before the split on Friday was 74.95 euros. Cargotec shareholders have received one Kalmar share for each Cargotec share they own. Analysts had guessed that Kalmar was slightly more than 40 percent of the value of the whole.

On Monday, Cargotec’s course opened at 44.30 euros and Kalmar’s course at 35.60 euros. The total value was thus 79.90 euros, i.e. 6.6 percent higher than Friday’s closing level. Immediately after the split, the value of Cargotec, which was left over from the previous entity, was 55.4 percent, and Kalmar’s was 44.6 percent. Kalmar’s exchange rate in particular moved strongly between 30 and 37 euros in the morning with a low exchange rate.

In the morning, Kalmar specified its outlook and estimated the operating profit percentage to be more than 11 percent this year. Cargotec estimated in May that the costs arising from operating as an independent company will have a negative effect of approximately 1–2 percentage points on Kalmar’s annual result of Cargotec’s Kalmar business. So now the same guidance level remained, despite the negative effect of the additional costs.

Around two o’clock on Monday, Cargotec’s share was around 47.2 euros and Kalmar’s share was around 29.3 euros. The total value was therefore approximately 76.5 euros.

Kepler Cheuvreux updated the target price for the split Cargotec to 32.0 euros from the previous 58.0 euros. Kepler Cheuvreux reiterated the company’s cut recommendation

US Index Futures predict a bullish opening for Wall Street.