# Piippo - Baling Nets and Baling Wires
**URL:** https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457
**Category:** Osakkeet
**Tags:** piippo
**Created:** [November 30, 2022, 9:59am UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457 "2022-11-30T09:59:08Z")
**Posts on this page:** 14
**Page:** 3
### Author:  [@Turpo1](https://forum.inderes.com/u/Turpo1)
#### Post date: [November 2, 2025, 9:46am UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/47 "2025-11-02T09:46:30Z")
> [@Opa](#):
>
> Or do you have some better information, or are we going by emotion?
If one just rationally examines this;
Buyer:
- Private - Unlikely
- Purpose as firewood forest expensive, unsuitable for residential purposes due to zoning, perhaps unappealing as an extension to a neighbor’s field, and challenging even for speculative purposes, as the municipality can always remove it with a pre-emption right if it happens to go for free. For none of these purposes does the land have a value exceeding a 5-digit sum.
- Municipality - “only”
- Purpose questionable from a real estate development perspective, even if it’s in the so-called core. Lempäälä is entirely a sparsely populated area, and zoning ten “prime detached house” plots there seems, well, unlikely. If those fields were also for sale and the entire area were developed, then we’d be talking about a completely different game. You yourself didn’t seem to believe in an apartment building with the efficiency figures you presented.
- Pricing; Lempäälä buys land and has bought land. In recent years, for example, +5000ha. I don’t know how strategic such a 1.8ha plot next to it in a “sparsely populated area” is. These were paid for at about 20k€/ha, which is also a fairly average price for raw land in other cities. Emphasizing, raw land. I don’t have inside information, but for municipalities, these raw land prices are equal for everyone, and there are different pricing models. A reference price of 2€/m2, which is quite typical for, say, a ball field. 2-4x the price of forest land. 5-10% of the price of a plot for sale. I don’t know how even with these pricing models one would reach six figures.
You are right. I am just going by emotion. However, I would ask a counter-question: what kind of scenarios do you see where that plot in Lempäälä would fetch even a 6-digit sum, if the rounding error estimate is guesswork?? Remembering that we are still selling under duress.
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### Author:  [@Karhu\_Hylje](https://forum.inderes.com/u/Karhu_Hylje)
#### Post date: [November 2, 2025, 10:13am UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/48 "2025-11-02T10:13:52Z")
> [@Opa](#):
>
> But as you might see from the map, the location is excellent near the center, or rather, in the center itself, on and by the lake, and Lempäälä’s population is growing. 2020 23.8k → 2025 25k
It seems that Lempäälä’s population growth is more concentrated towards the Tampere side than actually in Lempäälä’s center.
I also think it’s quite optimistic to expect that Outokumpu’s factory property will sell quickly at that price. I’m certainly not an expert on these matters, but why on earth would someone want to go there? A rail connection is a plus, but even if one were to buy those properties, they would likely require quite a lot of modification work (depending, of course, on the type of activity). Since municipalities are happy to distribute those industrial plots practically for free, I would guess that there are plenty of competing alternatives in Eastern Finland.
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### Author:  [@Opa](https://forum.inderes.com/u/Opa)
#### Post date: [November 2, 2025, 12:16pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/49 "2025-11-02T12:16:04Z")
> [@Karhu\_Hylje](#):
>
> In my opinion, it is also quite optimistic to expect that Outokumpu factory property to sell quickly at that price. I am certainly not an expert on these matters, but why on earth would someone want to go there specifically? The rail connection is a plus, but even if one bought those properties, they would likely require quite a lot of modifications (depending, of course, on the type of activity). Since municipalities are happy to distribute industrial plots practically for free, I would guess that there are plenty of competing alternatives in Eastern Finland.
As stated, one buyer is enough; if one isn’t found, then it won’t sell. The point is that if someone has a use for ready-made facilities there, they can get them cheaply. You can’t get much for an empty plot at the required square meter price.
> [@Turpo1](#):
>
> As a counter-question, what kind of scenarios do you see where that Lempäälä plot would fetch even a 6-figure sum, if the rounding error estimate is just guesswork?? Remembering that we are still selling under duress.
Practically, such a large plot of land, 1.8 ha, near the center of Lempäälä would be something like 1.8 x 20keur = 38 keur. There are currently 4 waterfront plots in Lempäälä on Etuovi, with prices ranging from 78-265 keur. Outside the zoning area, a special permit is naturally required. Based on this, one could conclude that the plot would indeed fetch something other than a remote location price. Including pricing with the municipality.
However, everyone is free to round it down to zero, and then it’s certainly easy to conclude that it’s best to stay away from this case.
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### Author:  [@Turpo1](https://forum.inderes.com/u/Turpo1)
#### Post date: [November 2, 2025, 1:04pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/50 "2025-11-02T13:04:49Z")
> [@Opa](#):
>
> But, everyone is free to round it to zero, and then it’s easy to conclude that one should stay away from this case.
You should have at least tried to answer something sensible, other than that it’s in the city center so it must have value. Still, that plot is completely irrelevant, as its value is already lost in the spread whether it’s 40k or 100k. I’m genuinely interested in what Opa’s estimate of its value is, if you think it has significance for the final outcome in terms of value realization.
And even if it were 140k, it would still be within the limits of a rounding error 😀
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### Author:  [@Critter1](https://forum.inderes.com/u/Critter1)
#### Post date: [November 2, 2025, 1:52pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/51 "2025-11-02T13:52:10Z")
Naturally, the assessment of zoning is an integral part of determining the plot’s value. If that 18,000m2 could be divided into ten 1800m2 single-family home plots, it’s clear that seven-figure sums would easily be reached. I, for one, do not have the expertise to assess whether special permits or similar could be obtained for that.
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### Author:  [@Turpo1](https://forum.inderes.com/u/Turpo1)
#### Post date: [November 2, 2025, 4:08pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/52 "2025-11-02T16:08:15Z")
Is there any example where the entity holding the zoning monopoly would significantly share value with the raw land seller?
The municipality buys raw land and zones its own land, reaping the benefit. Hasn’t it always been this way? Of course, one could imagine a scenario where that whole area, including its fields, would be zoned sometime in the distant future, in which case that plot might also get a new zoning plan as a side effect, but even then, the municipality would skim off the largest part as
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### Author:  [@Opa](https://forum.inderes.com/u/Opa)
#### Post date: [November 3, 2025, 6:28pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/53 "2025-11-03T18:28:26Z")
> [@Turpo1](#):
>
> You should have at least tried to answer something sensible, other than that it must have value just because it’s in the city center. Still, that plot of land is one big pile of crap, as it’s already lost in the spread whether it’s 40k or 100k. I’m genuinely interested in what your estimated value of it is, if you think it has any significance for the final outcome in terms of value realization.
>
> And even if it were 140k, it would still be within rounding error limits 😀
Whatever’s bothering you, let’s recap:
-Piippo announces that the net debt-free value would be approx. 3.9 MEUR
\-from the above figure, 1.4 MEUR in total for the Outokumpu industrial property and the Lempäälä plot. I.e., a value exceeding approx. 2 EUR/share.
\-Outokumpu industrial property 8730 m2 (warm and cold spaces combined), where 160 EUR/m2 would yield 1.4 MEUR. Purely to give an indication that a very high price level would not be needed. If a buyer is found.
\-The Lempäälä plot of 18,000 m2 is in the immediate vicinity of the city center, train station approx. 500m, grocery stores 300/500m. Trivially, almost all cities have an interest in utilizing the proximity of city centers and rail traffic for construction, and typically infrastructure is nearby. Of course, it is possible that Lempäälä would be different, and since politics is present, various follies are possible. The said plot owned by Piippo Oy, 418-431-3-33, is not zoned, so everything is theoretically possible.
\-if one looks at the master plan 2040 (explanation), the idea in Lempäälä at the time of its drafting was to significantly increase the city’s population, and more than double it in the city center area, i.e., +5300 people.
\-of course, the Piippo Oy plot does not have to be taken for residential use; the municipality can designate it as a city recreational area and expropriate it at the price of forest land. In that case, the value would be close to zero.
-another option is zoning with a coefficient of 0.2, in which case the building right would be 18,000 x 0.2 = 3600 m2. For example, 20 single-family house plots of 800m2 each, with a building right of 160m2 each. In Lempäälä, the typical plot price is 60-80 KEUR. Let’s use that, even though the location is actually in the city center and by the water at the same time. 20 pcs x 70 KEUR = 1400 KEUR. Of that, 40-60% of the benefit to the city, so for example, 1400 x 40% = 640 KEUR would remain for Piippo. But - due to the schedule - it is sold to a speculator to await better times, for example, -50% =\> 320 KEUR for Piippo
-or apply for an exemption for a residential / holiday home, and get price X for it.
=\> The price of the Lempäälä plot can be about zero, or with this timeline, perhaps 320 KEUR, or something else.
As said, one can choose according to one’s own view and risk tolerance.
What worries me most is what will happen to the Outokumpu property, and on the other hand, the delisting, which seems absurd. Why couldn’t the shell company be sold even at some reasonable price, especially since delisting takes time? Is some scheming being prepared here, or a negotiation tactic to maximize the shell price? Although the shell is a FirstNorth shell, there are still fine large companies on First North, and one can certainly upgrade oneself from those lists if desired.
> **[14002 Strateginen yleiskaava - Lempäälä](https://www.lempaala.fi/asuminen-ja-ymparisto/kaavoitus-ja-maankaytto/kaavoitus-vanha/yleiskaavoitus/vahvistuneet-yleiskaavat/14002-strateginen-yleiskaava/)**
[https://aaltodoc.aalto.fi/server/api/core/bitstreams/8e5f21b1-e6c9-4fa1-bdf8-2a5f34319b42/content](https://aaltodoc.aalto.fi/server/api/core/bitstreams/8e5f21b1-e6c9-4fa1-bdf8-2a5f34319b42/content)
---
### Author:  [@Karhu\_Hylje](https://forum.inderes.com/u/Karhu_Hylje)
#### Post date: [December 4, 2025, 8:59am UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/54 "2025-12-04T08:59:30Z")
> [@Critter1](#):
>
> Bought a good 11k when it was under 2€ and I’m guessing the money will be 3€
“There is therefore uncertainty regarding the final amount of the company’s distributable assets. The company estimates that the operating costs for the financial year and the costs related to the liquidation procedure will total approximately 500,000 euros, and the amount of distributable assets will be approximately 3.3–3.5 million euros after the completion of the company’s dissolution procedure, assuming that the Outokumpu industrial property has been sold at its balance sheet value of 1.4 million euros. If the sale of the Outokumpu property does not succeed during the financial year, the company’s estimate of the amount of distributable assets is approximately 1.8–2.0 million euros.”
> **[Sisäpiiritieto: Piippo Oyj on jättänyt osakkeen kaupankäynnin lopettamista...](https://view.news.eu.nasdaq.com/view?id=b9ac4e1e24f4a6e2481754d84a25284c0&lang=fi&src=listed)**
If the Outokumpu property is sold at its balance sheet value, the company estimates that 2.6€/share would be distributable (midpoint of the range).
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### Author:  [@Turpo1](https://forum.inderes.com/u/Turpo1)
#### Post date: [December 4, 2025, 3:43pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/55 "2025-12-04T15:43:03Z")
> [@Karhu\_Hylje](#):
>
> The company estimates that the operating costs for the financial period and costs related to the liquidation procedure will total approximately 500,000 euros, and the amount of distributable assets will be approximately 3.3–3.5 million euros after the company’s dissolution procedure is completed, assuming that the Outokumpu industrial property has been sold at its balance sheet value of 1.4 million euros.
It’s interesting that Lempäälä’s million-euro plot has been barely mentioned, almost as an aside, regarding the financial effects of the dissolution procedure.
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### Author:  [@Opa](https://forum.inderes.com/u/Opa)
#### Post date: [January 5, 2026, 4:18pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/56 "2026-01-05T16:18:17Z")
I wonder if the announcement was drafted during the long Christmas holidays, the text in the release is so unclear. And isn’t this protection period supposed to be 6 months…
> 5.1.2026 18:00:01 EET | Piippo Oyj | Inside Information
>
> Piippo Oyj Company Release 5.1.2026
>
> Piippo Oyj (the “company”) announced on 4.12.2025 that it had submitted an application to Nasdaq Helsinki Ltd for the termination of trading in its share. Based on the application received by Nasdaq Helsinki Ltd, a decision was made on 29.12.2025 regarding the termination of trading and the removal of the share from the Nasdaq First North Growth Market Finland marketplace.
>
> Nasdaq Helsinki Ltd’s decision is followed by a 6-day protection period, during which trading in the share can proceed normally and shareholders retain the possibility to sell their shares or [await] the dissolution and distribution of funds. Trading in the share in question will end on 29.6.2026 at the earliest.
>
> As previously announced, the actual operational result [activities] ended at the end of 2025, and the company has no plans to start new business operations. In addition, the company [announced a] plan for voluntary liquidation proceedings and the distribution of funds to shareholders. The General Meeting’s decision to initiate the liquidation procedure and the liquidation procedure itself will commence at the earliest after the protection period determined by Nasdaq Helsinki Ltd.
Nasdaq Helsinki Ltd has approved Piippo Oyj’s application to terminate trading in the share [Nasdaq Helsinki Oy on hyväksynyt Piippo Oyj:n hakemuksen osakkeen kaupankäynnin lopettamiseksi](https://share.google/JLwQ0oaQ5YY5CBfGK)
---
### Author:  [@Critter1](https://forum.inderes.com/u/Critter1)
#### Post date: [February 6, 2026, 1:02pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/57 "2026-02-06T13:02:45Z")
> **[Piipossa on sijoittajalle nyt pelin paikka – Jos kaikki menee nappiin,...](https://www.arvopaperi.fi/uutiset/a/714df312-0a23-4aad-b90d-98bdeee32c79)**
>
> Pörssistä poistuvassa Piipossa on riskiä kaihtamattomille mahdollisuus pelata.
After a long while, Piippo is in the news too.
---
### Author:  [@Opa](https://forum.inderes.com/u/Opa)
#### Post date: [June 25, 2026, 10:53am UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/58 "2026-06-25T10:53:27Z")
Bye bye Piippo, June 29th is the last trading day
Left a bit of a strange taste in the mouth,
- becoming a shell company was not interesting
- Binary industrial real estate in a remote location
- The Lempäälä plot doesn’t seem to be for public sale, and there has been no information about selling it anyway
- ownership concentrated within the family
- even the ELY Centre (Centre for Economic Development, Transport and the Environment) for Eastern Finland is interested in getting some subsidies (just under 300k EUR) back
Let’s just say that a private company is not necessarily the best place in this kind of situation, and the return potential has shrunk and is somewhat binary.
Giving the company a plus, however, for offering to buy back shares
EDIT: nonsense, that wasn’t the case after all
> Trading in Piippo Oyj shares ends on June 29, 2026.
> 25.6.2026 13:00:00 EEST | Piippo Oyj | Company Announcement
> Trading in Piippo Oyj (“the company”) shares on the Nasdaq First North Growth Market Finland marketplace ends on June 29, 2026.
> As previously announced, the Company submitted an application to Nasdaq Helsinki Ltd on December 4, 2025, to terminate trading in its shares.
> Based on the application submitted by the company, Nasdaq Helsinki Ltd made a decision on December 29, 2025, to terminate trading and remove the share
> from the Nasdaq First North Growth Market Finland marketplace. Trading in the company’s shares will end after a six-month
> protection period on June 29, 2026.
> After the termination of trading, the Company will no longer publish financial reports in accordance with the Securities Markets Act and the Nasdaq First North Growth Market rulebook.
> The Company’s website www.piippo.info will remain the company’s primary information channel. The company’s shares will remain
> in the book-entry system maintained by Euroclear Finland Ltd.
Trading in Piippo Oyj shares ends on June 29, 2026. | Piippo Oyj [Kaupankäynti Piippo Oyj:n osakkeella päättyy 29.6.2026. | Piippo Oyj](https://share.google/UsoZYNmRRyxRGvFbD)
Inside information: Decision by the ELY Centre for Eastern Finland on the recovery of subsidies | Piippo Oyj [Sisäpiiritieto: Itä-Suomen elinvoimakeskuksen päätös tuen takaisinperinnästä | Piippo Oyj](https://share.google/N9hG8ar6IONCEwe9I)
---
### Author:  [@Critter1](https://forum.inderes.com/u/Critter1)
#### Post date: [June 25, 2026, 11:15am UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/59 "2026-06-25T11:15:58Z")
> [@Opa](#):
>
> Bye bye Piippo, June 29th is the last trading day
>
> Left a bit of a strange taste in my mouth,
> -becoming a shell company was not interesting
> -Binary industrial real estate in a remote location
> -The Lempäälä plot doesn’t seem to be for public sale, and there’s been no information about selling it anyway
> -ownership concentrated within the family
> -the Center for Economic Development, Transport and the Environment (ELY Center) of Eastern Finland is also interested in getting back some subsidies (just under 300k EUR)
>
> Let’s just say a private firm might not be the best place to be in this situation, and the return potential has shrunk and is somewhat binary.
>
> Credit to the firm, however, for offering to buy back shares.
>
> > Trading in Piippo Oyj’s shares will end on June 29, 2026.
> > June 25, 2026 13:00:00 EEST | Piippo Oyj | Company Release
> > Trading in Piippo Oyj (“company”) shares on the Nasdaq First North Growth Market Finland marketplace will end on June 29, 2026.
> > As previously announced, the Company submitted an application to Nasdaq Helsinki Ltd on December 4, 2025, to terminate trading of the share.
> > Based on the application submitted by the company, Nasdaq Helsinki Ltd made a decision on December 29, 2025, regarding the termination of trading and the
> > removal of the share from the Nasdaq First North Growth Market Finland marketplace. Trading in the company’s shares will end after a six-month
> > protection period on June 29, 2026.
> > After the termination of trading, the Company will no longer publish financial reports in accordance with the Securities Markets Act and the Nasdaq First North Growth Market rulebook. The Company’s website www.piippo.info will remain the company’s primary information channel. The Company’s shares will remain in the book-entry system maintained by Euroclear Finland Ltd.
>
> Trading in Piippo Oyj’s shares will end on June 29, 2026. | Piippo Oyj [Kaupankäynti Piippo Oyj:n osakkeella päättyy 29.6.2026. | Piippo Oyj](https://share.google/UsoZYNmRRyxRGvFbD)
>
> Inside Information: Decision by the Center for Economic Development, Transport and the Environment of Eastern Finland on the recovery of subsidies | Piippo Oyj [Sisäpiiritieto: Itä-Suomen elinvoimakeskuksen päätös tuen takaisinperinnästä | Piippo Oyj](https://share.google/N9hG8ar6IONCEwe9I)
What do you mean by the company offering to buy back shares? Personally, I’m keeping a small amount just to see how the process goes.
---
### Author:  [@Opa](https://forum.inderes.com/u/Opa)
#### Post date: [June 25, 2026, 12:08pm UTC](https://forum.inderes.com/t/piippo-paalausverkot-ja-paalauslangat/36457/60 "2026-06-25T12:08:09Z")
Sorry,
what I remembered was only the general meeting’s decision to authorize the repurchase of treasury shares.
But that hasn’t actually happened, as there haven’t been any announcements regarding share buybacks.
Decisions of Piippo Plc’s Annual General Meeting | Piippo Oyj [Piippo Oyj:n varsinaisen yhtiökokouksen päätökset | Piippo Oyj](https://share.google/YtuXWjuoC3TtGkmeZ)
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