The rights issue is aimed at reducing Finnair's financing costs, supporting the realisation of the company's strategy for sustainable growth and ensuring the company's capacity for future investments. Through the rights issue, Finnair is also seeking to restore the company's ability to distribute profits.
How can I participate in Finnair's rights issue?
The subscription period begins on 3 November 2023 at 9.30 Finnish time and ends on 17 November 2023 at 16.30 Finnish time. As a Finnair shareholder, you can exercise your subscription right and subscribe for offer shares at op.fi. Two (2) subscription rights entitle you to subscribe for twenty-seven (27) offer shares at the subscription price.
What should I do as a Finnair shareholder?
As your bank, we cannot give our opinion on whether you should use the subscription rights to buy new shares or sell all or part of the subscription rights.
As a Finnair shareholder, you should make sure that you exercise your subscription right between 3 November and 13 November 2023. You can subscribe for the offered shares or sell all or part of your subscription rights on the Helsinki Stock Exchange. If you do nothing, the unused subscription rights will expire and become worthless.
You can sell and buy subscription rights in your book-entry account. It is impossible to buy subscription rights with an Equity Savings Account. This is because the Equity Savings Account can only be used to buy shares. If you wish, you can subscribe or sell the subscription rights in your Equity Savings Account.
What is a rights issue?
Listed companies may occasionally need to raise new capital as their business expands or due to difficult market conditions, for example. A rights issue, or rights offering, is one way to raise capital. A rights issue is similar to an initial public offering, but instead of listing as a new company in the stock exchange, the company issues new shares based on subscription fees paid by current or new shareholders.