DOCSLIB.ORG

OFFERING CIRCULAR 9 March 2018 Listing on the Official

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

OFFERING CIRCULAR 9 March 2018 Listing on the Official List of Nasdaq Helsinki Ltd Share Sale of preliminarily a maximum of 20,000,000 Sale Shares Personnel Offering of a maximum of 300,000 Personnel Shares Preliminary Price Range EUR 7.50–9.00 per Sale Share This offering circular (the “Offering Circular”) has been prepared in connection with the contemplated listing of Altia Plc, a public limited liability company incorporated in Finland (“Altia” or the “Company”). The State of Finland, represented by the Prime Minister’s Office (the “State of Finland” or the “Seller”) is offering, through a sale of shares, preliminarily a maximum of 20,000,000 shares (the “Sale Shares”) in the Company for purchase (the “Share Sale”) (i) to private individuals and entities in Finland (the “Public Share Sale”), and (ii) to institutional investors as private placements in Finland and internationally (the “Institutional Share Sale”). In addition, the Company is offering for subscription to the permanent employees of Altia in Finland and Sweden and to the members of the Executive Management Team of Altia a maximum of 300,000 new shares in the Company (the “Personnel Shares”) (the “Personnel Offering”). The Company and the Seller have appointed Nordea Bank AB (publ), Finnish Branch (“Nordea”) to act as the global coordinator and bookrunner (the “Global Coordinator”) as well as a financial advisor for the Share Sale and the Personnel Offering. In addition, the Company and the Seller have appointed Carnegie Investment Bank AB (“Carnegie”) to act as the joint bookrunner and OP Corporate Bank plc (“OP”) to act as the co-lead manager for the Share Sale and the Personnel Offering (Nordea, Carnegie and OP together, the “Managers” and each individually a “Manager”). In addition, the Seller has appointed Nordnet Bank AB, Finnish Branch (“Nordnet”) to act as a subscription place in the Public Share Sale. The Seller is expected to agree on that it will grant the Global Coordinator an over-allotment option, exercisable within 30 days from the commencement of trading in the Company’s shares (the “Shares”) on the prelist of Nasdaq Helsinki Ltd. (the “Helsinki Stock Exchange”) (which is expected to be between 23 March 2018 and 21 April 2018), for up to 3,000,000 additional Shares (the “Additional Shares”) solely to cover over-allotments, if any (the “Over-allotment Option”). Unless the context indicates otherwise, the Sale Shares, the Personnel Shares and the Additional Shares are referred to together herein as the “Offer Shares”. The preliminary price range in the Sale Shares is EUR 7.50–9.00 per Sale Share (the “Preliminary Price Range”). In the Public Share Sale, the final sale price is at most the upper limit of the Preliminary Price Range (the “Sale Price”), i.e. EUR 9.00 per Sale Share. The subscription price per share in the Personnel Offering is 10 per cent lower than the Sale Price in the Public Share Sale (the “Subscription Price”). Thus, the Subscription Price per Personnel Share in the Personnel Offering is EUR 8.10 at maximum. The Sale Price and the Subscription Price will be announced through a stock exchange release immediately following the pricing and they will be available on the Company’s website at www.altiagroup.com/ipo on or about 23 March 2018 and in the subscription places of the Share Sale and the Personnel Offering on or about 23 March 2018. The Shares have not been subject to trading on a regulated market prior to the execution of the Share Sale and the Personnel Offering. The Company will submit a listing application with the Helsinki Stock Exchange to list the Shares on the Official List of the Helsinki Stock Exchange (the “Official List”) under the share trading code “ALTIA”. Trading in the Shares is expected to commence on the prelist of the Helsinki Stock Exchange on or about 23 March 2018 and on the Official List of the Helsinki Stock Exchange on or about 27 March 2018 (the “Listing”). The Personnel Shares will be applied to be admitted for trading later, on or about 28 March 2018. The Sale Shares offered in the Public Share Sale will be recorded in the book-entry accounts of investors maintained by Euroclear Finland Ltd (“Euroclear Finland”), the Finnish central securities depository, on or about 23 March 2018. In the Institutional Share Sale, the Sale Shares will be ready to be delivered against payment on or about 27 March 2018 through Euroclear Finland. The Personnel Shares will be recorded in the book-entry accounts of investors on or about 28 March 2018. The Shares will be eligible for clearing through the facilities of Euroclear Finland. The subscription period for the Public Share Sale will commence on 12 March 2018 at 10:00 a.m. (Finnish time) and end on 20 March 2018 at 16:00 p.m. (Finnish time). The subscription period for the Institutional Share Sale will commence on 12 March 2018 at 10:00 a.m. (Finnish time) and end on 22 March 2018 at 12:00 p.m. (Finnish time). The subscription period for the Personnel Offering will commence on 12 March 2018 at 10:00 a.m. (Finnish time) and end on 20 March 2018 at 16:00 p.m. (Finnish time). However, the subscription period for the Personnel Offering in Sweden will end on 19 March 2018 at 11:00 a.m. (local time) and Nordea’s e-subscriptions in Finland will end on 19 March 2018 at 4:00 p.m. Instructions for making the subscriptions and purchases as well as detailed terms and conditions of the Share Sale and the Personnel Offering are presented in this Offering Circular under “Terms and Conditions of the Share Sale and the Personnel Offering”. The Offer Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or under the securities laws of any state of the United States and accordingly, may not be offered or sold, directly or indirectly, in or into the United States except in transactions exempt from registration under the U.S. Securities Act. The Offer Shares are being offered and sold outside the United States in compliance with Regulation S under the U.S. Securities Act (“Regulation S”). The distribution of this Offering Circular and the offer and sale of the Offer Shares may be restricted by law in certain jurisdictions. Accordingly, neither this Offering Circular nor any advertisement or any other material relating to the Share Sale and the Personnel Offering may be published or distributed in or into Australia, Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, Japan, South Africa, or the United States, or any other jurisdiction in which it would not be permissible to deliver or make an offer of the Offer Shares. The Offer Shares may not be offered, sold, resold, transferred or delivered, directly or indirectly, in or into any such jurisdiction. See “Important Information”. An investment in the Offer Shares involves risks. Prospective investors should read this entire Offering Circular and, in particular, “Risk Factors” when considering an investment in the Company. Global Coordinator Joint bookrunner Co-lead manager IMPORTANT INFORMATION In connection with the Share Sale and the Personnel Offering, the Company has prepared a Finnish language Prospectus (the “Finnish Prospectus”) in accordance with the Finnish Securities Market Act (746/2012, as amended, the “Securities Market Act”), Commission Regulation (EC) No. 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements (as amended, Annexes I, III and XXII), the Decree of the Ministry of Finance on the prospectuses referred to in Chapter 3–5 of the Securities Market Act (1019/2012) and the regulations and guidelines issued by the Financial Supervisory Authority. The Financial Supervisory Authority has approved the Finnish Prospectus, but is not responsible for the accuracy of the information presented therein. The record number of the Financial Supervisory Authority’s approval decision concerning the Finnish Prospectus is FIVA 5/02.05.04/2018. This offering circular (“Offering Circular”) is an English language document of the original Finnish Prospectus. This Offering Circular contains the same information as the Finnish Prospectus, with the exception of certain information directed at investors outside of Finland. The English language Offering Circular has not been approved by the Financial Supervisory Authority. In the event of any discrepancies between the original Finnish Prospectus and the English language Offering Circular, the Finnish Prospectus shall prevail. The restrictions for distribution differ between the Finnish Prospectus and the English language Offering Circular. In this Offering Circular, any reference to “Altia”, the “Company” or the “Group” means Altia Plc and its subsidiaries collectively, except where it is clear from the context that the term means Altia Plc as the parent company or a specific subsidiary or particular business unit only. References and matters relating to the Shares and share capital of the Company or matters of administration of the Company shall refer to the Shares, share capital and matters of administration of Altia Plc. The Company and the Seller have appointed Nordea Bank AB (publ), Finnish Branch to act as the global coordinator and bookrunner as well as a financial advisor and Carnegie Investment Bank AB to act as the joint bookrunner and OP Corporate Bank plc to act as the co-lead manager for the Share Sale and the Personnel Offering.
Recommended publications
  • Liite 2 Sidosyksiköt Suomessa Suomessa on Merkittävä Määrä Sidosyksiköitä. Yksistään Helsingin Kaupunki Omistaa Noin 9

    Liite 2 Sidosyksiköt Suomessa Suomessa on Merkittävä Määrä Sidosyksiköitä. Yksistään Helsingin Kaupunki Omistaa Noin 9

    Liite 2 1 (2) 4.10.2016 Procurement Training and Counseling Services Sidosyksiköt Suomessa Suomessa on merkittävä määrä sidosyksiköitä. Yksistään Helsingin kaupunki omistaa noin 90 yhtiötä. 1 Suomessa oli vuoden 2016 alusta 313 kuntaa 2. Valtion omistamia yhtiöitä on listattu alla. Kansainvälisille markkinoille palveluita tuottaa tai voisi tuottaa useampi valtio-omisteinen yhtiö. Esimerkiksi: CSC - Tieteen tietototekniikan keskus Oy: ” International projects and collaborative networks. CSC expands Finland's national service offering through European cooperation. CSC is a partner in many international projects and European e-infrastructure and grid projects. A list of CSC's international projects projects can be found below. CSC's international cooperation are of direct benefit to research teams in Finland.”3 Esimerkkejä kokonaan omistetuista valtionyhtiöistä 4 Omistaj Osuus Valtionyhtiö Toimiala a- Alaraja % % ohjaus 1. A-Kruunu Oy vuokra-asunnot YM 100 100 2. Arctia Shipping Oy jäänmurto VNK 100 100 3. Omaisuudenhoitoyhtiö omaisuudenhoito VM 100 0,0 Arsenal Oyj (selvitystilassa) 4. CSC – Tieteen tietotekniikan tietojenkäsittely OKM 100 100 keskus Oy 5. Finavia Oyj lentoliikenne LVM 100 100 6. Finnpilot Pilotage Oy luotsauspalvelut LVM 100 100 7. Finnvera Oyj erityisrahoituslaitos TEM 100 100 rautatieliikenteen 8. Finrail Oy VNK 100 100 ohjauspalvelut 1 Lähde: http://www.hs.fi/kaupunki/a1420951728052 2 Lähde: https://fi.wikipedia.org/wiki/Luettelo_Suomen_kunnista 3 Lähde: https://www.csc.fi/international-projects-and-collaborative-networks 4 Lähde: https://fi.wikipedia.org/wiki/Luettelo_Suomen_valtionyhti%C3%B6ist%C3%A4 Osoite Y-tunnus Puhelin Internet ja sähköposti Simonkatu 12 A 7 1916929-5 050 541 8615 www.ptcs.fi 00100 Helsinki [email protected] Finland Liite 2 2 (2) 4.10.2016 Procurement Training and Counseling Services maakaasun 9.
  • Income Tax (Einkommensteuer) 1

    Income Tax (Einkommensteuer) 1

    INVENTORY LEVIED IN THE MEMBER STATES OF THE EUROPEAN UNION 16th edition — Supplement AUSTRIA FINLAND SWEDEN * »* • • • • • *** EUROPEAN COMMISSION EUROPEAN COMMISSION DIRECTORATE-GENERAL XXI CUSTOMS AND INDIRECTTAXATION DIRECTORATE-GENERAL XV INTERNAL MARKET AND FINANCIAL SERVICES Inventory of taxes levied in the Member States of the European Union by the State and the local authorities (Lander, départements, regions, districts, provinces, communes) 16TH EDITION — Supplement Austria Finland Sweden DOCUMENT A great deal of additional information on the European Union is available on the Internet. It can be accessed through the Europa server (http://europa.eu.int) Cataloguing data can be found at the end of this publication Luxembourg: Office for Official Publications of the European Communities, 1996 ISBN 92-827-6986-0 © ECSC-EC-EAEC, Brussels · Luxembourg, 1996 Printed in Luxembourg Introductory note In collaboration with the Member States, the European Commission publishes a survey of the duties and taxes in force in the Member States of the European Union. The present edition reflects the situation on 1 January 1995 in Austria, Finland and Sweden and Is a supplement to the 16th edition. This publication aims to provide all those interested in tax law — public servants, university staff, students, businessmen, tax advisers, etc.—with a general view of the tax systems of the Member States. Directorates-General XXI and XV will be pleased to receive any comments or suggestions with a view to the improvement of this work. Rue de la Loi 200 B-1040 Brussels Abbreviations M.b. — Moniteur belge B.S. = Belgisch Staatsblad BGBl. = Bundesgesetzblatt VO = Verordnung BayBS = Bayrische Bereinigte Sammlung GVBI = Gesetz- und Verordnungsblatt RGBl = Reichsgesetzblatt RAO and AO = (Reichs).
  • Statement on the Corporate Governance and Steering System 2016 Finnvera’S Financial Review 2016 2

    Statement on the Corporate Governance and Steering System 2016 Finnvera’S Financial Review 2016 2

    Statement on the Corporate Governance and Steering System 2016 FINNVERA’s FinanciaL REVIEW 2016 2 Statement on the Corporate Governance and Steering System Finnvera’s Financial Review 2016 Statement on the Corporate Governance and Steering System Contents Statement on the Corporate Governance and Steering System .............. 3 Acts and rules governing the operations ........................................... 3 The goals of good corporate governance ........................................... 3 Ownership and ownership policy ..................................................... 4 Administrative bodies of Finnvera ........................................ ........... 4 General Meeting of Shareholders ........................................ 4 Supervisory Board ............................................................ 4 Board of Directors ............................................................ 5 Inspection Committee of the Board of Directors ..................... 7 Remuneration Committee of the Board of Directors ................ 7 Chief Executive Officer, Management Group and Corporate Management Team ............................................. 8 Salaries and fees .......................................................................... 8 Operating principles for internal control ............................................ 9 Risk management ......................................................................... 9 Controlling the financial reporting process ........................................ 9 Compliance function .....................................................................
  • Regulator\ Reform in Finland

    Regulator\ Reform in Finland

    5HJXODWRU\ 5HIRUP LQ )LQODQG 7KH 5ROH RI &RPSHWLWLRQ 3ROLF\ LQ 5HJXODWRU\ 5HIRUP ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960, and which came into force on 30th September 1961, the Organisation for Economic Co-operation and Development (OECD) shall promote policies designed: to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; to contribute to sound economic expansion in Member as well as non-member countries in the process of economic development; and to contribute to the expansion of world trade on a multilateral, non-discriminatory basis in accordance with international obligations. The original Member countries of the OECD are Austria, Belgium, Canada, Denmark, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The following countries became Members subsequently through accession at the dates indicated hereafter: Japan (28th April 1964), Finland (28th January 1969), Australia (7th June 1971), New Zealand (29th May 1973), Mexico (18th May 1994), the Czech Republic (21st December 1995), Hungary (7th May 1996), Poland (22nd November 1996), Korea (12th December 1996) and the Slovak Republic (14th December 2000). The Commission of the European Communities takes part in the work of the OECD (Article 13 of the OECD Convention). Publié en français sous le titre : LE ROLE DE LA POLITIQUE DE LA CONCURRENCE DANS LA RÉFORME DE LA RÉGLEMENTATION © OECD 2003.
  • Annual Report Annual 2011

    Annual Report Annual 2011

    Annual Report 2011 www.altiacorporation.com 2 | 3 Altia annual report 2011 3 | 3 _Contents 04 32 Altia’s year Framework for sustainable 08 development CEO’s review 33 Framework and definition 10 of reporting Value in three 35 waves Financial 14 responsibility Never-ending passion 36 for brands Environmental WE THINK responsibility AHEAD 16 Brands are the core of 39 our growth IN Altia’s quality, safety GOOD and environmental COMPANY principles FAST TRACK 18 TO THE Selection of Altia’s MARKETS own brands 44 Social responsibility SHARING THE BEST 20 Fast track to the Nordic 49 MOMENTS and Baltic markets We follow responsible THIRST 22 business principles FOR Selection of Altia’s 51 GROWTH partner brands Comparing the report to the recommendation by Global 24 Reporting Initiative PASSION Industrial Services to customers 52 FOR Board of Directors BRANDS 26 Competitiveness through 54 BORN production, logistics and Executive Management sourcing Team RESPONSIBLE 30 56 Responsibility report Contact details 4 | 5 Altia annual report 2011 5 | 5 _ Leading in the Nordics and Baltics Altia is the leading wine and spirits company offering quality brands in the Nordic and Baltic countries. Altia produces, delivers, markets, sells, imports and exports alcoholic beverages in these markets. Altia’s own brands such as Blossa, Chill Out, Explorer, Renault, Grönstedts, Koskenkorva, Jaloviina, O.P. Anderson, Xanté and Key Ratios for Altia Group 2011 2010 2009 Skåne Akvavit have a strong market position and many of them a long heritage to cherish. Net sales, EUR million 524.8 487.9 407.3 Operating profit, EUR million 34.4 32.6 15.6 ( % of net sales ) 6.6 6.7 3.8 Altia’s partner brands represent both local and international Profit before taxes,EUR million 31.1 29.6 9.4 ( % of net sales) 5.9 6.1 2.3 brands from all over the world, such as Codorníu, Drostdy-Hof, Profit for the period, EUR million 21.3 25.7 5.3 Hardy’s, Jack Daniel’s, Bowmore, Nederburg, Ravenswood ( % of net sales) 4.1 5.3 1.3 Statement of financial position, and Robert Mondavi.
  • Yhtiöittämisen Periaatteet Valtiolla

    Yhtiöittämisen Periaatteet Valtiolla

    Valtiovarainministeriö Yhtiöittämisen periaatteet valtiolla Esiselvitys 30.1.2018 Valtionhallinnon kehittämisosasto 30.1.2018 SISÄLLYS JOHDANTO .............................................................................................................................................. 2 1 Valtion yhtiöt ja omistajapolitiikan periaatteet ................................................................................ 3 1.1 Valtion omistamisen perusta ......................................................................................................... 3 1.2 Omistajaohjaus .............................................................................................................................. 4 1.3 Valtion yhtiöt .................................................................................................................................. 6 2 Valtion liikelaitokset ..................................................................................................................... 10 2.1 Euroopan yhteisön päätös Tieliikelaitosta koskien ...................................................................... 10 2.2 Valtion liikelaitoksia koskeva lainsäädäntö .................................................................................. 12 3 Rahastot ...................................................................................................................................... 14 3.1 Valtion talousarvion ulkopuoliset rahastot ................................................................................... 14 3.2 Itsenäiset
  • Annual Report of the Director of the Mint

    Annual Report of the Director of the Mint

    - S. Luriºus vsº ANNUAL REPORT Of the Director of the N/int for the fiscal year ended June 30, 1970. ANNUAL REPORT of the Director of the Mint for the fiscal year ended June 30 1970 DEPARTMENT OF THE TREASURY DOCUMENT NO. 3253 Director of the Mint U.S. GOVERNMENT PRINTING OFFICE WASHINGTON : 1971 For sale by the Superintendent of Documents, U.S. Government Printing Office Washington, D.C. 20402 - Price $1 (paper cover) Stock Number 4805–0009 LETTER OF TRANSMITTAL DEPARTMENT OF THE TREASURY, BUREAU OF THE MINT, Washington, D.C., April 29, 1971. SIR: I have the honor to submit the Ninety-eighth Annual Report of the Director of the Mint, since the Mint became a Bureau within the Department of the Treasury in 1873. Annual reports of Mint activities have been made to the Secretary of the Treasury since 1835, pursuant to the act of March 3, 1835 (4 Stat. 774). Annual reports of the Mint have been made since it was established in 1792. This report is submitted in compliance with Section 345 of the Revised Statutes of the United States, 2d Edition (1878), 31 U.S.C. 253. It includes a review of the operations of the mints, assay offices, and the bullion depositories for the fiscal year ended June 30, 1970. Also contained in this edition are reports for the calendar year 1969 on U.S. gold, silver, and coinage metal production and the world's monetary stocks of gold, silver, and coins. MARY BROOKs, Director of the Mint. Hon. JoHN B. Con NALLY, Secretary of the Treasury.
  • Merkittävät Valtioenemmistöiset Yhtiöt Ja Valtion Osakkuusyhtiöt (Konsernitiedot)

    Merkittävät Valtioenemmistöiset Yhtiöt Ja Valtion Osakkuusyhtiöt (Konsernitiedot)

    Merkittävät valtioenemmistöiset yhtiöt ja valtion osakkuusyhtiöt (konsernitiedot) Valtioenemmistöiset Toimiala Liikevaihto Henkilöstö Nyk. valtion Hallinnoiva yhtiöt 2013 2013 osuus osake- ministeriö pääomasta Milj. € % A-Kruunu Oy asuntojen vuokraus 1,8 .. 100,0 YM Alko Oy alkoholijuomien 1 175 2 610 100,0 STM vähittäismyynti Altia Oyj alkoholijuomien tuotanto ja 475,8 1 074 100,0 VNK tukkumyynti Arctia Shipping Oy jäänmurto-, monitoimialus- 63,0 279 100,0 VNK ja yhteysaluspalvelut OHY Arsenal Oy 1) omaisuudenhoitoyhtiö - - 100,0 VM Boreal Kasvinjalostus Oy viljelykasvien jalostus ja 9,4 72 60,8 VNK markkinointi CSC-Tieteen tietotekniikan tieteelliseen ja tekniseen 31,2 254 100,0 OKM keskus Oy laskentaan liittyvä atk-palvelu Finavia Oyj lentoasemaverkosto ja 352,8 2 239 100,0 LVM lennonvarmistusjärjestelmä Fingrid Oyj sähkön voimansiirtopalvelu 543,1 277 53,1 VM Finrail Oy**** rautatieliikenteen ohjaus- 36 460 100.0 VNK palvelut Finnair Oyj lentoliikenne 2 400,3 5 803 55,8 VNK Finnpilot Pilotage Oy luotsauspalvelut 37,6 334 100,0 LVM Finnvera Oyj erityisrahoituslaitos 292,5 399 100,0 TEM Fortum Oyj energiantuotanto 6 056 9 886 50,8 VNK Gasonia Oy* energialiiketoiminta .. .. 99,0 VNK Gasum Oy maakaasun tukkukauppa 1 147,5 273 75,0** VNK Governia Oy sijoitusyhtiö 124,6 253 100,0 VNK Hansel Oy hankintakeskus 8,7 73 100,0 VM HAUS Kehittämiskeskus Oy täydennyskoulutus ja 5,1 28 100,0 VM kehittämispalvelut Kemijoki Oy energian tuotanto 36,5 203 50,1 VNK Leijona Catering Oy ravitsemispalvelut 65,3 485 100,0 VNK Meritaito Oy vesiteiden ylläpito ja 26,9 232 100,0 VNK kehittäminen Motiva Oy tehokkaan energiankäytön 8,6 68 100,0 VNK edistäminen Neste Oil Oyj öljyn jalostus 17 462 5 049 50,1 VNK Nordic Morning Oyj graafinen teollisuus 118,4 668 100,0 VNK Patria Oyj puolustusvälineteollisuus 824,8 3 614 90,4 VNK Posti Group Oyj postipalvelut 1 976,8 25 877 100,0 VNK Raskone Oy raskaiden koneiden 91,5 749 85,0 VNK korjaamotoiminta Solidium Oy sijoitusyhtiö .
  • Corporate Governance Statement

    Corporate Governance Statement

    Corporate Governance Statement [5.3.2021] 1 Contents 1 General ................................................................................................................................. 3 2 Description of Fingrid’s administrative bodies .................................................................. 3 3 General meeting ................................................................................................................... 4 3.1 Shareholders’ Nomination Board ..................................................................................... 5 4 Board of Directors ............................................................................................................... 5 4.1 Duties of the Board of Directors ...................................................................................... 6 4.2 Board of Directors in 2020 ............................................................................................... 7 4.3 Diversity of the Board of Directors ................................................................................. 11 5 Board committees .............................................................................................................. 11 5.1 Audit committee ............................................................................................................ 12 5.2 Remuneration committee .............................................................................................. 12 6 Managing director and the deputy managing director ...................................................
  • 2012 CCG Template

    2012 CCG Template

    Doing Business in Finland: 2012 Country Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2012. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. • Chapter 1: Doing Business In Finland • Chapter 2: Political and Economic Environment • Chapter 3: Selling U.S. Products and Services • Chapter 4: Leading Sectors for U.S. Export and Investment • Chapter 5: Trade Regulations, Customs and Standards • Chapter 6: Investment Climate • Chapter 7: Trade and Project Financing • Chapter 8: Business Travel • Chapter 9: Contacts, Market Research and Trade Events • Chapter 10: Guide to Our Services Return to table of contents Chapter 1: Doing Business In Finland • Market Overview • Market Challenges • Market Opportunities • Market Entry Strategy Market Overview Return to top Finland, a member of the European Union (EU) since 1995, has redefined itself from a quiet agricultural based economy to a trend setting, global center for technology. Finland has commercial clout far in excess of its modest 5.4 million population. Finland routinely ranks at the very top in international surveys of research and development funding, competitiveness, transparency, literacy, and education. Helsinki, is a pocket-sized green maritime metropolis, and the Design Capital for 2012; a yearlong event showcasing the global influence of Finnish design and innovation. In Finland, nature reigns supreme and it is no surprise that Helsinki was the site of the first LEED certified building in the Nordics. Finland, along with all its Nordic neighbors, has a focused interest in green build and energy efficient and intelligent building products, services and technologies. Contrary to popular misconception, Finland is not a part of Scandinavia.
  • This Document Has Been Downloaded from Tampub – the Institutional Repository of University of Tampere

    This Document Has Been Downloaded from Tampub – the Institutional Repository of University of Tampere

    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Trepo - Institutional Repository of Tampere University This document has been downloaded from TamPub – The Institutional Repository of University of Tampere Post-print The permanent address of the publication is http://urn.fi/URN:NBN:fi:uta-201405281513 Author(s): Kankaanpää, Jari; Oulasvirta, Lasse; Wacker, Jani Title: Steering and Monitoring Model of State-Owned Enterprises Year: 2014 Journal Title: International Journal of Public Administration Vol and number: 37 : 7 Pages: 409-423 ISSN: 0190-0692 Discipline: Business and management; Political science School /Other Unit: School of Management Item Type: Journal Article Language: en DOI: http://dx.doi.org/10.1080/01900692.2013.858355 URN: URN:NBN:fi:uta-201405281513 All material supplied via TamPub is protected by copyright and other intellectual property rights, and duplication or sale of all part of any of the repository collections is not permitted, except that material may be duplicated by you for your research use or educational purposes in electronic or print form. You must obtain permission for any other use. Electronic or print copies may not be offered, whether for sale or otherwise to anyone who is not an authorized user. Steering and Monitoring Model of State-Owned Enterprises Introduction Privatisation of stated-owned enterprises (SOEs) gained considerable momentum in developing and developed countries in the 1980s and 1990s (The World Bank, 2006, p. 3). Despite wide-ranging privatisation programmes, SOEs are still and will be an important part of many economies, especially in developing economies (La Porta, Lopez-de-Silanes, & Shleifer, 1999; Ezzamel, Wilmott, & Worthington, 2008; Vagliasindi, 2008; Ennser-Jedenastik, 2013).
  • THE YEAR 2015 01 • the Year 2015 • New at Arctia in 2015

    THE YEAR 2015 01 • the Year 2015 • New at Arctia in 2015

    THE YEAR 2015 01 • The year 2015 • New at Arctia in 2015 ..................................................................04 Arctia 2015 • The year 2015 in figures ............................................................. 05 • CEO’s Review ................................................................................06 02 • Arctia • Operating environment ...............................................................08 • Core messages and organisation ................................................12 • Corporate responsibility management ......................................17 • Financial responsibility ................................................................20 • Society and human rights ...........................................................23 EXPERT IN ARCTIC • Environment ................................................................................26 03 • Service areas CONDITIONS • Icebreaking services ......................................................................32 • Offshore services ..........................................................................34 Arctia’s icebreakers ensure the reliability and safety of • Oil spill prevention and response ................................................36 • Harbour icebreaking ....................................................................37 Finland’s shipping lanes in the winter. In 2015, we met • Arctia Events .................................................................................38 all service targets set for us in the Baltic Sea. Outside