Sandvik’s board of directors reports that, following the completion of its internal separation of Sandvik Materials Technology (SMT), the company next plans to distribute SMT to Sandvik’s shareholders and list the company’s shares on the Nasdaq Stockholm Exchange.
The board intends to propose the distribution and listing of the SMT shares at a shareholders’ meeting in 2022, Sandvik said.
‘The Board believes that both Sandvik and Sandvik Materials Technology can develop more favorably on their own,’ said Johan Molin, chairman of the Sandvik board of directors. ‘Both Sandvik and SMT are well positioned within their areas and we believe this will improve long-term shareholder value. However, a listing should be done when circumstances are favourable.’
This story uses material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
