ESL Shipping to spin off into independent listed firm

Finnish industrial group Aspo has approved a plan to separate its subsidiary ESL Shipping into an independent listed company through a partial demerger, alongside reporting improved first-half financial results.

Under the proposal approved by the board on August 3, shareholders would receive one share in ESL Shipping Group for each Aspo share held, while Aspo would subsequently be renamed Telko Group.

The demerger remains subject to shareholder approval at an extraordinary general meeting scheduled for December 7, with completion targeted for December 31. Trading in ESL Shipping Group shares is expected to commence on or about January 4, 2027.