Change to Fingrid’s ownership structure progresses

The Finnish Government has today approved the sale of State-owned Fingrid series B shares to OP Pohjola. Earlier this year, the State acquired Ilmarinen’s holding of Fingrid series A shares, 50 of which will be converted to series B shares. Following the arrangements, the State’s ownership share in Fingrid will be 59.5 per cent.

The sale of series B shares to OP Pohjola Kantaverkko Holding Ky (OP Pohjola) is part of a broader change in Fingrid’s ownership structure, in which Ilmarinen Mutual Pension Insurance Company sold its holding of approximately 20 per cent of the shares of Fingrid to the Finnish State and OP Pohjola Kantaverkko Holding Ky.

Changes to the ownership structure have been implemented gradually, and the process has now reached the phase where 50 series A shares held by the Finnish State will be converted to series B shares and sold to OP Pohjola Kantaverkko Holding Ky, with the Finnish State retaining one B share. This transaction is subject to the unanimous approval of the shareholders.

As a result of arrangements related to the changes, the State’s ownership share in Fingrid will be to 59.5 per cent, and OP Pohjola Kantaverkko Holding Ky’s ownership share will be 14.2 per cent.

Further information:
Asta Sihvonen-Punkka, President & CEO, Fingrid Oyj, tel. +358 30 395 5235
Eeva-Liisa Virkkunen, Fingrid Oyj’s Chair of the Board, tel. +358 40 505 2522