Published: 2022-01-03 08:30:00 CET
Nasdaq Nordic
Investor News

Nasdaq Helsinki welcomes Purmo Group

Jan 3, 2022 – Nasdaq (Nasdaq: NDAQ) announces that trading in Purmo Group Plc shares (short name: PURMO) commence today on Nasdaq Helsinki Main Market. Purmo Group is a mid cap company within the Industrials sector. Purmo Group Plc is going public after the merger with Virala Acquisition Company Plc (ticker: VACSPAC) and the name of Virala Acquisition Company Plc will change to Purmo Group Plc at the same time. The acquisition of Purmo Group by Virala Acquisition Company (short name: VACSPAC) is the first acquisition and listing following a business combination by a SPAC, a Special Acquisition Company, on Nasdaq Nordic markets. Virala Acquisition Company Plc was the first SPAC to be listed on the SPAC segment of Nasdaq Helsinki on June 29, 2021.

Purmo Group is a leader in sustainable indoor climate comfort solutions in Europe. We provide complete heating and cooling solutions to residential and non-residential buildings, including radiators, towel warmers, underfloor heating, convectors, valves and controls. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our 3,500 employees operate through 46 locations in 21 countries, manufacturing and distributing top quality products and solutions to customers in more than 100 countries globally. www.purmogroup.com

John Peter Leesi, CEO of Purmo Group, comments: “Since the merger of VAC and Purmo Group was announced in September 2021, the need for energy-efficient and sustainable indoor climate comfort solutions has intensified further. With our broad product offering and brands recognized for quality and innovation, we are uniquely positioned to offer the market the smartest possible indoor climate systems and solutions. Our growth ambitions are clear. Together with our leadership team and committed employees, and supported by our longstanding relationships with wholesalers across Europe, Russia and China, we feel comfortable on our new journey ahead. I am very excited to start Purmo Group’s next phase and to lead Purmo Group as a publicly listed company with a clear ambition to become the global market leader in indoor climate comfort solutions.”

“We are excited to welcome Purmo Group on Nasdaq Helsinki as a result of the first combination agreement done by a SPAC in Finland”, said Henrik Husman, President of Nasdaq Helsinki. “We congratulate Virala Acquisition Company on the successful acquisition, and we look forward to support Purmo Group as a listed company.”

“Since the launch of SPACs last year, we have welcomed six SPACs across our Nordic Main Markets. SPACs compliment IPOs and direct listings as successful ways to enter the public market. It is fantastic to see that Finnish Virala Acquisition Company found a company and merged with Purmo Group, becoming our first de-SPAC,” said Adam Kostyál, Head of European Listings at Nasdaq.

Purmo Group is the first company to be admitted to trading on Nasdaq’s Nordic markets* in 2022.

*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm

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Maarit Bystedt
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