WISA Group Plc: Finnish regulator approves demerger and listing prospectus; leadership team appointed

Regulatory approval and timetable

The Finnish Financial Supervisory Authority approved the Finnish‑language demerger and listing prospectus on July 16, 2026. UPM has proposed an Extraordinary General Meeting for August 31, 2026 to approve the partial demerger transferring the plywood business to WISA. The planned completion date of the demerger is October 31, 2026, and trading of WISA shares on Nasdaq Helsinki is expected to begin on November 2, 2026 or as soon as reasonably possible thereafter.

Business scope and capacity

WISA will comprise UPM’s plywood business, operating seven production units across five locations in Finland and Estonia with a theoretical maximum production capacity of approximately 785,000 cubic metres per year. Product lines include softwood and hardwood plywood and veneer for panel trading, construction, vehicle flooring, LNG shipbuilding, parquet manufacturing and other industrial applications.

Leadership

Tuija Suur‑Hamari has been appointed President and CEO of WISA, subject to completion of the demerger. The Group Leadership Team will also include Pia Helminen (SVP, HR), Saara‑Maria Helminen (SVP, General Counsel), Kristiina Jaaranen (SVP, Marketing, Sustainability and Communications), Susanna Rinne (SVP, Sales), Juhani Tenhunen (SVP, Operations) and Lasse von Hertzen (interim SVP, CFO). Appointees will continue in their current UPM roles until the demerger is completed.

Targets and reporting

The Board has set targets for WISA of sales over EUR 550 million by 2030, comparable EBIT of 13% of sales by 2030 and net debt/ comparable EBITDA under 1.5x, with an intended dividend distribution of around 50% of profit for the financial year. The prospectus includes audited carve‑out financial statements for 2023–2025, unaudited Q1 2026 information, and unaudited pro forma financial information illustrating the effect of the demerger.