Sandvik targets Sandvik Materials Technology listing in Q2 or Q3 2022
The Sandvik Board of Directors has reaffirmed plans to distribute Sandvik Materials Technology (SMT) to shareholders and list SMT on the Nasdaq Stockholm Exchange. The targeted completion date for the listing is the second or third quarter of 2022, pending shareholder approval. Chairman Johan Molin stated that both Sandvik and SMT's independent growth potential justifies this move. A formal proposal for distribution will be made at a shareholders' meeting next year.
- Planned distribution and listing of Sandvik Materials Technology may unlock growth potential for both SMT and Sandvik.
- Listing on Nasdaq Stockholm could enhance visibility and attract investors.
- The proposal is still subject to shareholder approval, introducing uncertainty.
- Delayed execution may affect market sentiment if targets are not met.
SANDVIKEN, Sweden, Oct. 18, 2021 /PRNewswire/ -- The Sandvik Board of Directors has today confirmed its previous decision to proceed with the preparation to distribute Sandvik Materials Technology (SMT) to Sandvik's shareholders and list the company's shares on the Nasdaq Stockholm Exchange. The Board's current target is to complete the listing on the Nasdaq Stockholm Exchange during the second or third quarter 2022, subject to approval by Sandvik's shareholders. The intended distribution of shares is expected to meet the Lex Asea requirements.
"The internal separation of SMT is proceeding as planned and the previously communicated reasons for a distribution and listing remain relevant. We believe that both Sandvik and Sandvik Materials Technology can develop more favorably on their own", says Johan Molin, Chairman of the Sandvik Board of Directors.
As previously communicated, The Board intends to formally propose the distribution and listing at a shareholders' meeting next year.
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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SOURCE Sandvik
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