UPM-Kymmene Corporation’s board plans to notify Finland’s Trade Register so its plywood demerger can be registered on Oct. 31, a move that would transfer the business to WISA Group Plc and distribute shares to UPM shareholders.
The board made the decision on Oct. 28, setting a target rather than confirming registration. The transfer and planned share distribution depend on the Trade Register completing the filing.
WISA would take on assets and liabilities connected to UPM’s Plywood business or mainly used to support it. Under the distribution plan, holders would receive one WISA share for each UPM share, excluding shares held in UPM’s treasury. UPM expects 527,324,046 WISA shares to be issued, while its own share count is not expected to change.
UPM shareholders approved the demerger on Aug. 31. UPM filed WISA’s listing application with Nasdaq Helsinki on Oct. 22. The company has said the separation is intended to let the plywood business pursue its own plans while helping UPM focus on its core operations.
UPM said the Finnish Financial Supervisory Authority (FIN-FSA) approved a supplement to WISA’s Finnish-language demerger and listing prospectus on Oct. 28. The supplement includes unaudited carve-out financial information for the nine months ended Sept. 30, 2026, updates WISA’s guidance and outlook, and makes technical amendments. UPM said an unofficial English translation would be available alongside the Finnish document and earlier prospectus.
If registration proceeds as planned, trades in UPM shares made on or before Oct. 30 qualify for the distribution. UPM said buyers with eligible trades still awaiting settlement will be allocated shares in each company.
WISA shares are expected to appear in shareholders’ accounts around Nov. 2, when trading is also expected to begin on Nasdaq Helsinki under ticker WISA. UPM’s ticker will remain UPM.
