Initial Public Offering
Koskisen, a wood-processing company with more than hundred years of operating history, arranges an initial public offering and is planning the listing of its shares on the official list of Nasdaq Helsinki.
Koskisen aims to raise gross proceeds of approximately EUR 29.3 million. The net proceeds from the offering are expected to be used in investments supporting Koskisen growth strategy. The planned listing of Koskisen shares would obtain access to capital markets, expand Koskisen ownership base and increase the liquidity of the shares. The listing and increased liquidity would also make it possible to use the shares more effectively as consideration in potential future transactions. Additional visibility is also expected to further increase Koskisen’s recognition among the public and as an employer.
The offering consists of a public offering to private individuals and entities in Finland, an institutional offering to institutional investors in Finland and internationally and a personnel offering.
Before making an investment decision, please review the offering circular and the the terms and conditions of the offering therein, available on this website.
Subscription period for public offering
November 21–28, 2022
See Koskisen company presentation held on Monday 21 November 2022
The presentation is held in Finnish.
From the CEO
Koskisen is over hundred years old family-owned wood processing company. We have now reached a stage where it is natural to accelerate growth and build the Koskisen of the next decades. For this reason, we are arranging an IPO for new shareholders of Koskisen.
We live in symbiosis with forest owners and want to be their primary partner. We mainly source the wood from private forest owners, and we help them through the process, if necessary, on a turnkey basis. Responsible wood procurement is an absolute prerequisite for our operations.
We also want to understand our customers and exceed their expectations. We develop new products ourselves and our sales network is constantly close to the customer, passing on their wishes. Due to our agile operating model, we are often able to respond to requests.
The value of wood as an ecological material is increasingly understood and that is also why its popularity is growing. We live off wood and it is too valuable a material to waste. That’s why we want to use it as precisely as possible, down to the last bite, wood-wise.
We aim for strong growth. While our turnover was 311 million euros in 2021, in the next five years our goal is to increase our turnover to 500 million euros, also through acquisitions. Our growth requires new resources and that is why we are now planning to go public.
Welcome as a new shareholder to build the Koskisen of next decades..
Koskisen is planning an IPO – video by Jukka Pahta, CEO
Koskisen in brief
Koskisen is a Finnish, family-owned wood processing company with more than hundred years of history operating on the wood products markets. Koskisen’s key market segments include sawn softwood, birch plywood and chipboard. Wood products are a good alternative for materials in multiple applications due to their positive carbon sink, durability, and renewable nature.
Koskisen has two business segments: Sawn Timber Industry and Panel Industry. The Sawn Timber Industry business segment produces sawn and further processed timber and the Panel Industry business segment produces plywood, thin plywood, veneers, chipboards and interior solutions for light and heavy commercial vehicles under the Kore brand. For the year ended December 31, 2021, Koskisen revenue amounted to EUR 311 million, EBITDA EUR 62 million and operating profit EUR 53 million. In 2021, Koskisen generated sales from approximately 70 countries.
Koskisen’s production facilities are located in Järvelä and Hirvensalmi, Finland, and Toporów, Poland. Koskisen is currently building a new unit in Järvelä, where production is expected to begin in stages during 2023 and 2024. The new unit is expected to increase the Sawn Timber Industry business segment’s current 300,000 cubic meter annual production capacity of sawn goods by 33 percent to approximately 400,000 cubic meters. At the end of September, 2022, Koskisen employed a total of 863 employees.
November 21, 2022
Subscription period commences
On or about November 28, 2022
Subscription period for public offering and personnel offering ends
On or about November 30, 2022
Subscription period for institutional offering ends
On or about December 1, 2022
Announcement of final results of the offering as stock exchange release
On or about December 1, 2022
Offer shares subscribed for in public offering and personnel offering registered in book-entry accounts of investors
On or about December 1, 2022
Trading in shares commences on official list of Nasdaq Helsinki
Place of subscription
The places of subscription in the Public Offering for Nordea book entry or equity savings account customers are Nordea Investor for private individuals with Nordea bank codes at investor.nordea.fi or by signing into Nordea Investor via Nordea Netbank.
The place of subscription in the Public Offering for other than Nordea’s book entry or equity savings account customers is Nordnet online service at www.nordnet.fi/koskisen. The subscription can be made through the online service with the bank codes of Nordnet, Aktia, Danske Bank, Handelsbanken, Nordea, Oma Säästöpankki, Osuuspankki, POP Bank, S-Bank, Säästöpankki and Ålandsbanken.
Marketing brochure (In Finnish) (.pdf)
Interim information, Jan-Sep 2022 (.pdf)
IFRS Financial statements 2020 and 2021 (.pdf)
FAS Financial statements 2020 (.pdf)
FAS Financial statements 2019 (.pdf)
Company register (In Finnish) (.pdf)
Articles of Association (.pdf)