Three Finnish earnings-related pension companies are amongst the 10 largest shareholders of the newly independent Mandatum Asset Management (MAM).

MAM was listed on the Nasdaq Helsinki on 2 October, following its partial demerger from Sampo plc on 1 October.

Varma has become the second largest shareholder with 22,248,420 shares and 4.43 per cent of total shares and votes. Ilmarinen is the third largest shareholder with 6,265,448 shares and 1.25 per cent of total shares and votes. Furthermore, Elo is the fifth largest shareholder with 3,691,500 shares and 0.74 per cent of total shares and votes.

The partial demerger of MAM from Sampo was approved at the latter’s AGM in May 2023. In the demerger, the shares in Mandatum Holding Ltd and related assets and liabilities transferred without a liquidation procedure to Mandatum plc, which was incorporated on the effective date of the demerger, 1 October 2023.

Mandatum Group consists, for instance, of Mandatum Life and Mandatum Asset Management Oy.

“Being listed on the Helsinki Stock Exchange is a significant milestone for Mandatum. As an independent company, we can strengthen the execution of our growth strategy and create added value for our shareholders and customers as an expert in money and life. It is great to begin this journey together with our new shareholders,” Mandatum Group CEO, Petri Niemisvirta, said.

Sampo shareholders have now received one new share in Mandatum plc as a demerger consideration for each existing series A or series B share in Sampo plc. Mandatum’s share count at the start of trading was the same as Sampo’s – 501,796,752 shares.

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