Share Listings
Stora Enso shares are listed on the Helsinki and Stockholm stock exchanges. The R shares are also listed in ADR form on the New York Stock Exchange. On 27 September 2004 the trading systems of the Helsinki and Stockholm stock exchanges were merged. At the request of the Stockholm Stock Exchange, Stora Enso EUR A and Stora Enso EUR R shares were delisted from the Stockholm Stock Exchange. As a result, Stora Enso’s shares are quoted in Helsinki in euros (EUR), in Stockholm in Swedish krona (SEK) and in New York in US dollars (USD).
American Depositary Receipts (ADRs)
Stora Enso R shares are traded on the New York Stock Exchange (NYSE) in ADR form under the SEO ticker. ADR issuances and cancellations are carried out by Deutsche Bank Trust Company Americas, which acts as depositary bank for the Stora Enso ADR programme. The administration of the ADR programme was transferred to Deutsche Bank Trust Company Americas from Citibank, N.A. in
January 2004.
The exchange rate between Stora Enso ADRs and R shares is 1:1, i.e. one ADR represents one Stora Enso R share. In 2004 the trading volume on the NYSE was approximately 2% of the total trading volume on all three exchanges.
Share Registers
The Company’s shares are entered in the Book-Entry Securities System maintained by the Finnish Central Securities Depository (APK), which also maintains the official share register of Stora Enso Oyj. On 31 December 2004, 166 161 843 of the Company’s shares were registered in the Swedish Securities Register Center as VPC-shares and 69 672 387 of the Company’s R shares were registered in ADR form in Deutsche Bank Trust Company Americas.
