Finnish sauna company Harvia ready to be listed - CEO

By Kitco News / February 23, 2018 / www.kitco.com / Article Link

HELSINKI, Feb 23 (Reuters) - Finnish sauna heater maker Harvia has what it takes to become a listed company, its chief executive said on Friday, adding that sales grew and profitability improved last year.

"Listing is a real option for us, eventually ... in terms of operation, reporting and so forth, we are ready," CEO Tapio Pajuharju told Reuters by telephone.

"But there's no timetable for that, and the owners might have other options in mind as well."

Pajuharju denied local media reports that Harvia, one of the leading companies in the global sauna market, was due to present a flotation plan on Friday. Private equity firm Capman , which bought a 72 percent stake in the company in 2014, was not available for a comment.

Harvia had sales of 50 million euros ($61.5 million) and earnings before interest, taxes, depreciation and amortisation of about 12 million euros in 2016. Pajuharju declined to disclose 2017 figures, but said sales grew and profitability improved.

Finnish alcoholic drinks company Altia said on Friday it planned to list on the Helsinki bourse next month. ($1 = 0.8128 euros)


(Reporting by Jussi Rosendahl, editing by David Evans)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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