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HELSINKI - Finnish financial group Sampo Oyj announced Wednesday it will terminate its Swedish Depositary Receipt (SDR) program on Nasdaq Stockholm and apply for direct listing of its A shares on the exchange.
The company plans to convert all outstanding SDRs into A shares as part of the transition, which is expected to be completed in February 2026. Sampo’s A shares have been listed on Nasdaq Stockholm through SDRs since November 22, 2022, with Svenska Enskilda Banken AB serving as the issuer and market maker.
The decision follows Euroclear Sweden’s announcement earlier this year to reopen its CSD links for new foreign issuers from certain jurisdictions, including Finland, starting September 2025. These links were unavailable when Sampo initially established its SDR arrangement.
According to the company, the direct listing will create a unified Nordic listing structure consistent with its listings on Nasdaq Helsinki and Nasdaq Copenhagen. Sampo cited several benefits from the change, including maximizing the available liquidity pool in the Swedish market, reducing the minimum price change increment compared to SDRs, and allowing current SDR holders to exercise shareholder rights without SEB’s intermediation.
Sampo’s board has already decided to request termination of the SDR arrangement with SEB. A formal termination notice will be published in Svenska Dagbladet around November 6, 2025.
The company expects the last trading day for SDRs on Nasdaq Stockholm to be around February 13, 2026, with A shares beginning trading on February 16, 2026. The record date for SDR conversion is tentatively set for February 17, with delivery of A shares to SDR holders expected around February 19, 2026.
Sampo has published an exemption document and Q&A materials on its website providing information about the conversion process and listing, according to the press release statement.
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