Cargotec’s Restructuring Splits Kalmar, Affecting Stock Prices on Helsinki Exchange
On Monday, Cargotec split into two separate companies, causing a significant drop in the value of Kalmar’s shares on the Helsinki Stock Exchange. Hiab and MacGregor, which remained in Cargotec, were priced significantly higher than Kalmar. This change resulted in Hiab being the only remaining company in Cargotec, with plans for a name change to Hiab in the future.
The share price of Kalmar initially jumped but then decreased throughout the day. Meanwhile, the remaining Cargotec shares were priced significantly higher on Monday despite the split. The market value of Cargotec doubled since November and the share price exceeded Friday’s closing price.
It is still unclear how the valuation of the companies will be affected by MacGregor’s potential sale. Kalmar updated its business profitability assessment, expecting expenses from the division but maintaining a strong profit margin. The Herlin family companies and foundation hold a significant portion of Cargotec’s ownership.
In conclusion, the restructuring of Cargotec has had significant impacts on the stock market, with Kalmar becoming a separate listed company and Hiab remaining within Cargotec. The changes have led to fluctuations in share prices and market value, with the full effects yet to be determined.
