At the same time, the AGM decided that new shares will be issued to the shareholders without payment in proportion to their holdings so that four new shares are issued for each share. In total, 32,519,336 new shares will be issued, increasing Marimekko’s total number of shares from 8.1m to 40.6m.
Split has no effect on Marimekko’s fair value and hence we have made no changes to our estimates. We update our target price to EUR 15.8 (79) and retain HOLD-rating.
Marimekko publishes its Q1 result on 13 May 2022.
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