Finland's Solidium plans to cut number of holdings over time

The head of the Finnish government’s investment firm Solidium has said it makes sense to concentrate its holdings and lower the number of companies in which it has stakes from 14. “Over the long term we could maybe have a few companies less, rather than more, Chief Executive Antti Makinen said, adding he felt Solidium’s stock portfolio was “rather big” in comparison with its Nordic peers. Makinen declined to comment on which holdings Solidium would consider selling off and said the changes could take time. Solidium is a major shareholder in 13 listed Finnish companies, including Stora Enso, Outokumpu and Metso and has a 0.1% stake in Nordea Bank. Solidium reported a return on its equity holdings of -3.0% in its financial year 2018-2019, which ended at the end of June, burdened in particular by steel maker Outokumpu and mining technology company Outotec.

- Reuters -



Register newsletter

Get to know about Nordic Chamber, our press releases and all news, straight to your inbox.