Michelin regains 20% share of Scandinavian Enviro Systems

LinkedIn +

Michelin again holds a 20% share in Scandinavian Enviro Systems, following the dilution of its holding in May due to the completed new issue.

Via a directed issue carried out in April 2020, Michelin acquired, via its subsidiary Michelin Ventures SAS, 20% of shares in Scandinavian Enviro Systems, making it the largest owner of the Scandinavian company.

In May 2021, Enviro finished a directed issue to Unwrap Finance AB for a total of 10,000,000 new shares, raising proceeds of Skr20,950,261 (US$2.4m) before issue costs. The subscription price per share was Skr2.095 (US$0.24) and the number of shares in the company following the issue equaled 590,826,115. It was two million of these shares that Michelin acquired. 

Share this story:

About Author

mm

After spending the past six years working as a mechanic for various motorsport and high-end performance car companies, Callum recently joined UKi Media & Events as an assistant editor. In this role he will use his vast practical knowledge and passion for automotive to produce informative news pieces for multiple vehicle-related sectors.

Comments are closed.