Trading in Piippo Oyj shares will halt as the company plans to cease all business operations. The traditional industrial firm announced its delisting from Nasdaq Helsinki's First North growth market on Monday evening.
The company stated it will no longer conduct any business activities after this year. Piippo has sold off its core operations piece by piece over time.
This development marks a rare situation in Finnish stock markets. Established companies typically maintain ongoing operations while listed.
Piippo now plans a voluntary liquidation process and distribution of assets to shareholders. The company previously considered a reverse listing with another firm seeking market entry.
Board members determined delisting serves the company's current situation and shareholder interests best. They cited the lack of future business operations as the primary reason.
The liquidation process can begin six months after delisting. This protective period is standard under Finnish market regulations. The procedure itself will take approximately four to six months.
Shareholders must approve the trading halt in an extraordinary general meeting. Piippo will convene this meeting in the coming weeks.
Company assets total €3.9 million according to board estimates. This includes an industrial property in Outokumpu and a plot in Lempäälä valued at €1.4 million.
The valuation accounts for previous commitments regarding subsidiary and fixed asset sales. These transactions will complete by year's end.
Piippo's delisting reflects the challenging transition many traditional industrial firms face. Without viable core operations, maintaining a stock market listing becomes impractical for companies.