Partial Demerger of Upm-Kymmene Corporation Registered With Wisa Group Plc Listing on Nasdaq Helsinki

✦ Meridian Analysis

The partial demerger of UPM‑Kymmene Corporation has been registered with the Finnish Trade Register, completing the process that was approved on 29 April 2026. Under the demerger plan, all assets and liabilities linked to the UPM Plywood business are transferred to a newly created vehicle, WISA Group Plc, which will be listed on Nasdaq Helsinki under the code “WISA” on 2 November 2026. UPM shareholders receive one WISA share for each UPM share they hold, with the new shares entered in book‑entry accounts on the same day. What remains undisclosed are the valuation metrics applied to the plywood assets, the composition of the financing package that supported the demerger, and the advisers involved in structuring the transaction. Observers will watch for the first trading day performance of WISA shares, any subsequent share‑buy‑back programmes, and any regulatory filings that could clarify the long‑term governance arrangements between UPM and WISA.

The Meridian Weekly