Michelin again holds a 20% share in Scandinavian Enviro Systems, following the dilution of its holding in May due to the completed new issue.
Via a directed issue carried out in April 2020, Michelin acquired, via its subsidiary Michelin Ventures SAS, 20% of shares in Scandinavian Enviro Systems, making it the largest owner of the Scandinavian company.
In May 2021, Enviro finished a directed issue to Unwrap Finance AB for a total of 10,000,000 new shares, raising proceeds of Skr20,950,261 (US$2.4m) before issue costs. The subscription price per share was Skr2.095 (US$0.24) and the number of shares in the company following the issue equaled 590,826,115. It was two million of these shares that Michelin acquired.
