Beskrivning
| Land | Finland |
|---|---|
| Lista | First North Finland |
| Sektor | Fastigheter |
| Industri | Förvaltning |
Toivo Group Plc, Stock exchange release 10 June 2025 at 3 p.m. (EEST)
The Finnish Financial Supervisory Authority today approved Toivo Group Plc's ("Toivo Group" or the "Company") listing prospectus in connection with the Company's transfer from the Nasdaq First North Growth Market Finland marketplace to the Main Market of Nasdaq Helsinki Ltd ("Nasdaq Helsinki"). The Finnish-language listing prospectus will be available on or about 10 June 2025 on Toivo Group 's website at https://sijoittajille.toivo.fi/.
The listing prospectus contains the following previously unpublished new information:
A loan of EUR 13.3 million has been recorded in the long-term loans from financial institutions in the financial statements of the Toivo Group for the financial year ended 31 December 2024, for which the interest coverage ratio (ICR) covenant has not been met on 31 December 2024 and for which the Company has received a waiver from the financier during the financial year 2025, and thus the financier has waived the application of the covenant for the financial year 2024. Accordingly, this loan should have been recorded in the short-term loans from financial institutions in accordance with IAS 1.74 in the financial statements for the financial year ended 31 December 2024, in which case the amount of long-term loans from financial institutions would have been EUR 34.3 million and the amount of short-term loans from financial institutions would have been EUR 15.3 million. Due to the waiver, the loan has been on 31 March 2025 and is on the date of the listing prospectus a long-term loan.
The Company filed a listing application with Nasdaq Helsinki on 3 June 2025 to list the Company's shares (the "Shares") on the Main Market of Nasdaq Helsinki. Trading in the Shares is expected to commence on the Main Market of Nasdaq Helsinki on or about 12 June 2025, provided that Nasdaq Helsinki approves the Company's listing application.
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
Certified Adviser: Nordic Certified Advisor
About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.
Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.
Toivo’s revenue in 2024 was EUR 39,8 million and its operating profit was EUR 4,5 million.