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NORDIC STOCKS - Factors to watch on April 28
April 28, 2014 / 6:45 AM / in 3 years

NORDIC STOCKS - Factors to watch on April 28

(Adds Finnair, Neste Oil, updates Meda)

HELSINKI, April 28 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Monday:

MEDA

The Swedish drug maker said on Monday it had rejected a new offer from U.S. generics firm Mylan to acquire it. Meda’s U.S. rival Mylan had made an improved offer of 145 crown per share. Trade in Meda shares was halted late on Friday after the news, first reported by the Financial Times, saw the stock shoot up 10 percent.

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FINNAIR

The airline will continue negotiations with its personnel over pay cuts and increasing working hours. Finnair Chief Operations Officer Ville Iho told national broadcaster Yle that both sides are ready for a 5-percent cut in pay, and continue discussions about increasing work by 10 percent. Deadline for the talks is Monday.

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NESTE OIL

Finnish oil refiner and German industrial gases maker Linde will invest 100 million euros in a new hydrogen plant at Neste Oil’s Porvoo refinery.

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SWEDBANK

The Swedish bank reported first-quarter profits in line with market expectations and said events in Ukraine would probably further delay an expected increase in credit demand in the Baltic countries.

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NORDIC IPO: AFRICAN PETROLEUM

Australian oil exploration firm African Petroleum hopes to list its shares on the Oslo Axess stock market and could complete the process by the end of May, daily Dagens Naeringsliv reported on Monday.

Separately, daily Finansavisen said African Petroleum plans to raise between 100-200 million crowns ($17-$33 million) in cash to fund its growth plans.

For a list of IPOs in the Nordics, click on

VISMA

Private equiry firm KKR & Co has cut its stake in Norwegian IT and accounting firm Visma to 31.1 percent from 77 percent in a transaction valuing Visma at 21 billion crowns ($3.5 billion), daily Dagens Naeringsliv reported on Monday.

Private equity fund Cinven bought a 31.3 percent stake in the sale. KKR bought its stake in 2010 when the overall value of Visma stood at 11 billion crowns.

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UPONOR

The Finnish plastic pipe maker reported first-quarter adjusted operating profit of 8.6 million euros, beating analyst expectation and up 41 percent from the same period a year earlier.

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Reporting by Helsinki, Copenhagen, Oslo and Stockholm newsrooms

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