Finland's Kemira To Waive Tikkurila Stake

Chemicals firm Kemira will sell the rest of the shares it owns in paints firm Tikkurila, its former division, it said on Thursday after market's closing.

Kemira said it will put some 6.2 million shares or 14% of Tikkurila into an accelerated book-built offering, managed by Danske Bank and Deutsche Bank's London branch. Tikkurila shares closed at €16.60 ($23.35), which makes the stake worth €102.5 million.

Through its spin-off from Kemira, Tikkurila became the only company that was listed in Helsinki bourse's main list in 2010.