| Ticker: VA | Panuntie 6 | |
| Exchange: New York Stock Exchange | Helsinki, Foreign | |
| Industry: Manufacturing | 3580777051 |
| Type of Shares: | American Depositary Receipts | Filing Date: | 4/30/96 | |
| U.S. Shares: | 8,063,826 | Offer Date: | 5/30/96 | |
| Non-U.S. Shares: | 13,534,744 | Filing Price: | $12.79 | |
| Primary Shares: | 0 | Offer Price: | $30.84 | |
| Secondary Shares: | 21,598,570 | Gross Spread: | $1.00 | |
| Offering Amount: | $276,245,709 | Selling: | $0.55 | |
| Expenses: | $1,005,000 | Reallowance: | $0.00 | |
| Shares Out After: | 42,550,715 | |||
| Spin out parent firm: | The Finnish State | |||
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 703-4797 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Auditor: KPMG Wideri Oy Ab | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $1,770.00 | Assets: | $1,990.00 | ||
| Net Income: | $135.00 | Liabilities: | $1,357.00 | ||
| EPS: | $2.78 | Equity: | $633.00 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a Finnish multinational industrial group with global sales and operation, primarily engaged in the design, manufacture, rebuilding and servicing of paper, board and tissue machines and pulp machinery. The company is also engaged in process automation used principally in the paper and pulp industry. Management believes that, based on the aggregate production capacity of large paper machines which were sold during the first half of the 1990s, the company was the world's leading manufacturer of large paper machines. The company's operations are conducted through four business groups: (i) Paper and Board Machinery, (ii) Automation, (iii) Power Transmission and (iv) Valmet Automotive.In 1995, the company had total net sales of FIM 8,5 74 million, of which approximately 84 percent were accounted for by exports from Finland and sales by international operations. |
| Use of Proceeds |
| Proceeds from the offering will be distributed to selling shareholders. |
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