UPM spins off plywood arm as WISA Group ahead of Helsinki listing

Finnish materials company UPM has completed the spin-off of its plywood business into a new, separately listed company, WISA Group. The partial demerger was registered with the Finnish Trade Register on Saturday, 31 October, and shares in the new company are due to start trading on Nasdaq Helsinki on Monday, 2 November.

Under the deal, all of the assets and debts of UPM’s plywood business move to WISA Group. UPM shareholders will receive one new WISA Group share for every UPM share they own — about 527 million shares in total. The shares are expected to appear in shareholders’ accounts on or around 2 November, and they can be traded from that day.

Nasdaq Helsinki has approved WISA Group’s listing. The shares will trade under the code “WISA”. UPM itself will keep trading under its existing “UPM” code, although its shares will get a new identification number as part of the split. The demerger plan was approved in April, and UPM’s shareholders backed it at a special meeting on 31 August.

Why it matters

The split turns WISA Group into one of Europe’s leading listed plywood producers, standing on its own for the first time. For UPM, it is the latest step in a plan to focus on its core businesses in renewable fibres, advanced materials and communication papers, after a strategic review of the plywood unit. For investors, the listing gives them a direct choice: hold shares in the plywood business, in the rest of UPM, or in both. WISA Group’s shares will be issued without any payment from shareholders, as the split is a demerger rather than a sale.

What happens next

Trading in WISA Group shares is due to begin on Monday, 2 November. UPM has said there will be no public sale of the new shares in the United States. The two companies will now operate as separate, independent businesses, each following its own strategy.

This article is for general information and education only. It is not legal or financial advice.

Sources

• https://mfn.se/cis/a/upm-kymmene/upm-kymmene-oyj-the-partial-demerger-of-upm-kymmene-corporation-has-been-registered-wisa-group-plc-to-be-listed-on-nasdaq-helsinki-63425b81 (UPM stock exchange release via MFN, 31 October 2026)
• https://jbiznews.com/upm-completes-plywood-spin-off-as-wisa-group-prepares-for-monday-trading/ (jbiznews, 31 October 2026)