The Sandvik Board of Directors has confirmed its previous decision to proceed with the preparation to distribute Sandvik Materials Technology (SMT) to Sandvik’s shareholders and list the company’s shares on the Nasdaq Stockholm Exchange. The board’s current target is to complete the listing on the Nasdaq Stockholm Exchange during the second or third quarter 2022, subject to approval by Sandvik’s shareholders.
“The internal separation of SMT is proceeding as planned and the previously communicated reasons for a distribution and listing remain relevant. We believe that both Sandvik and Sandvik Materials Technology can develop more favorably on their own,” stated Johan Molin, chairman of the Sandvik Board of Directors.
Sandvik added that its board intends to formally propose the distribution and listing at a shareholders’ meeting in 2022.