Public cash tender offer for the Shareholders of Oma Savings Bank
Final result of the public tender offer for the shareholders of Oma Savings Bank
S-Bank will complete the tender offer for Oma Savings Bank and commence a subsequent offer period. Based on the final result, the tender offer has been accepted in respect of 32,152,993 outstanding shares in Oma Savings Bank, representing approximately 96.78 per cent of all outstanding shares in Oma Savings Bank.
The subsequent offer period provides shareholders of Oma Savings Bank who have not previously accepted the tender offer with an additional opportunity to tender their shares for purchase in accordance with the terms and conditions of the tender offer.
An even stronger alternative for customers
S-Bank Plc commenced the voluntary cash tender offer, with the aim of acquiring all issued and outstanding shares in Oma Savings Bank Plc. The announced Tender Offer aims to combine two Finnish banks.
The aim is to have a stronger, more competitive bank that would be better positioned to develop its services, serve its customers and respond to the growing demands of the operating environment. If completed, the transaction would strengthen S-Bank’s position and elevate its growth to a new level, making it an even stronger alternative for customers.
With a history spanning over 150 years, Oma Savings Bank has a strong position in the Finnish banking sector and significant expertise. S-Bank would provide a solid platform for continuing its successful operations and future growth.
Key highlights
On 9 July 2026, S-Bank and Oma Savings Bank entered into a combination agreement pursuant to which S-Bank made a voluntary public tender offer for all the issued and outstanding shares in Oma Savings Bank.
S-Bank announced the preliminary result on 28 September 2026 and the final result on 30 September 2026. Based on the final result of the tender offer, the tender offer was accepted in respect of a total of 32,152,993 Shares, representing approximately 96.78 per cent of all issued and outstanding shares and votes in Oma Savings Bank (excluding treasury shares).
Subsequent Offer Period
S-Bank decided to commence a subsequent offer period in accordance with the terms and conditions of the tender offer.
The Subsequent Offer Period commences on 1 October 2026 at 9:30 a.m. (Finnish time) and expires on 22 October 2026 at 4:00 p.m. (Finnish time). The offer price is EUR 17.20 in cash for each share in Oma Savings Bank.
The Offer price
The offer price was EUR 17.20 in cash for each share.
The tender offer price included a significant premium compared to the market price of the Oma Savings Bank share prior to the announcement of the tender offer:
- 47.0 per cent compared to the closing price (EUR 11.70) of the Oma Savings Bank share on Nasdaq Helsinki on 8 July 2026, the last trading day immediately preceding the announcement of the tender offer;
- 46.0 per cent compared to the volume-weighted average price (EUR 11.78) of the Oma Savings Bank share on Nasdaq Helsinki during the three-month period prior to and up to 8 July 2026;
- 37.9 per cent compared to the volume-weighted average price (EUR 12.47) of the Oma Savings Bank share on Nasdaq Helsinki during the six-month period prior to and up to 8 July 2026; and
- 52.5 per cent compared to the volume-weighted average price (EUR 11.28) of the Oma Savings Bank share on Nasdaq Helsinki during the twelve-month period prior to and up to 8 July 2026.
The total equity value of the tender offer was approximately EUR 571.4 million based on 33,222,988 shares and excluding 133,741 shares held in treasury by Oma Savings Bank.
Recommendation of the Board of Directors
In connection with the announcement of the tender offer, the Board of Directors of Oma Savings Bank announced that it
unanimously recommends that the shareholders to whom the recommendation applies accept the tender offer.
The recommendation is supported by a fairness opinion provided by the company’s financial adviser EY Advisory Oy to the Board of Directors of Oma Savings Bank, according to which the tender offer was fair from a financial point of view to the shareholders of Oma Savings Bank.
Important dates
| Event | Date |
|---|---|
| Announcement of the tender offer | 9 July 2026 |
| S-Bank published the tender offer document containing detailed information on the tender offer | 16 July 2026 |
| The offer period commenced | 17 July 2026 |
| The offer period expired | 25 September 2026 |
| The preliminary result of the tender offer was announced | 28 September 2026 |
| The final result of the tender offer was announced | 30 September 2026 |
| Payment of the offer price (expected) | 7 October 2026 |
| The subsequent offer period commences | 1 October 2026 |
| The subsequent offer period expires | 22 October 2026 |
| Announcement of the preliminary percentage of the subsequent offer period (preliminary) | 23 October 2026 |
| Announcement of the final percentage of the subsequent offer period (preliminary) | 27 October 2026 |
| Payment of the offer consideration for the shares tendered during the subsequent offer period (preliminary) | 3 November 2026 |
Media and investor event
S-Bank hosted a Finnish-language event on the transaction for members of the media, shareholders of Oma Savings Bank Plc, analysts and institutional investors.
A recording of the event is available through the link below, and the presentation materials can be found in the materials section of this page or accessed directly via this link.
Greeting from the CEO
"With the acquisition of Oma Savings Bank, S-Bank will grow into a new size category and become an even stronger alternative for customers. The aim is to move towards becoming a single bank by drawing on both banks’ expertise and strengths.
This is a wonderful moment in S-Bank’s growth story. We are delighted that the transaction is taking our strategy forward according to plan and making S-Bank an even stronger alternative for customers. Above all, this is possible thanks to the people and the expertise now coming together behind a common goal. I look forward to our day-to-day work together with our new colleaguesOur aim is to move towards becoming a single bank with one strategy, one set of objectives, and consistent operating practices and customer experience. S-Bank’s solid foundations and extensive service network, Oma Savings Bank’s position in the Finnish banking sector and our mutually complementary services create a good basis for this journey”.
Riikka Laine-Tolonen
CEO, S-Bank
Q&A
S-Bank has decided to commence a subsequent offer period. What should I do? add
The subsequent offer period provides an additional opportunity for those shareholders of Oma Savings Bank who did not accept the tender offer during the original offer period. During the subsequent offer period, shareholders may still tender their shares for purchase in accordance with the terms and conditions of the tender offer.
The Subsequent Offer Period will commence on 1 October 2026 at 9:30 a.m. (Finnish time) and expire on 22 October 2026 at 4:00 p.m. (Finnish time). Acceptance of the tender offer during the subsequent offer period is binding and cannot be withdrawn.
Further information and instructions are available from your account operator or asset manager, as well as from Danske Bank A/S, Finland Branch, by email at Omasp-offer@danskebank.com.
At what price can I sell my shares during the subsequent offer period? add
During the subsequent offer period, the same offer price will be paid for Oma Savings Bank shares as during the original offer period. The offer price is EUR 17.20 in cash for each Share. The terms and conditions of the tender offer have not been amended in respect of the subsequent offer period.
What did the public tender offer mean in practice? add
The public tender offer meant that S-Bank offered all shareholders of Oma Savings Bank the opportunity to sell their shares to S-Bank at a cash price of EUR 17.20 per Share, subject to the terms and conditions described in the tender offer document. The offer period for the tender offer expired on 25 September 2026. Remaining shareholders have an opportunity to tender their shares during the subsequent offer period.
What does the subsequent offer period mean? add
The subsequent offer period is an additional period for those shareholders of Oma Savings Bank who did not accept the tender offer during the original offer period. During the subsequent offer period, shareholders may still sell their shares to S-Bank on the same terms and conditions as during the original offer period.
Materials
- 16 September 2026 Supplement Document (PDF, 1.0 Mb)Download
- 7 September 2026 Supplement Document (PDF, 1.7 Mb)Download
- 31 August 2026 Supplement Document (PDF, 1.5 Mb)Download
- 14 August 2026 Supplement Document (PDF, 3.6 Mb)Download
- 16 July 2026 Tender Offer Document (PDF, 8.9 Mb)Download
- 16 July 2026 Marketing brochure (in Finnish) (PDF, 4.1 Mb)Download
- 7 July 2026 Presentation from media and investor event (PDF, 4.7 Mb)Download