Swedish consumer goods company Svenska Cellulosa Aktiebolaget SCA said May 31 that it will distribute all shares in subsidiary Essity Aktiebolag (publ) to SCA shareholders on June 13.
On April 5, shareholders of the Stockholm-based company voted in favor of the board of director's proposal to split the company into two listed companies. Essity will manage the hygiene business, including personal care and tissue products; SCA will manage forest products operations.
SCA will distribute all shares in Essity Aktiebolag (publ), with 1 share of class A in SCA carrying entitlement to 1 share of class A in Essity and 1 share of class B in SCA carrying entitlement to 1 share of class B in Essity. Shareholders need to be registered as SCA shareholders as of June 13 to receive shares in Essity.
Nasdaq Stockholm's Listing Committee has approved the listing of class A shares and class B shares of Essity Aktiebolag (publ) for trading on Nasdaq Stockholm. Essity shares are expected to start trading June 15.
Essity class A shares will be traded under the ticker ESSITY A with the ISIN code SE0009922156, and class B shares will be traded under the ticker ESSITY B with the ISIN code SE0009922164.