INDU C Industrivarden AB Class C

New number of votes and shares outstanding

New number of votes and shares outstanding

Where the company increases or reduces the total number of shares or votes in the company, the company shall by law publish information regarding the change. 



At the 2011 Annual General Meeting, a share conversion clause was added to Industrivärden’s articles of association. Shareholders have the right at any time to request conversion of Class A shares to Class C shares. During the month of July 2020, 6,050 Class A shares were converted to Class C shares.



Following the share conversion, the number of votes in the company is 283,921,593. The total number of registered shares in the company is 435,209,877, of which 267,111,784 are Class A shares and 168,098,093 are Class C shares.



Stockholm, July 31, 2020

AB INDUSTRIVÄRDEN (publ)



For further information, please contact:

Sverker Sivall, Head of Corporate Communications and Sustainability, tel.



This information is information that AB Industrivärden is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication by the Head of Corporate Communication and Sustainability, Sverker Sivall (tel. ), at 10:00 a.m. CET on July 31, 2020.

Attachment

EN
31/07/2020

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Reports on Industrivarden AB Class C

Linus Sigurdson
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From the past week, we highlight: 1) Investor bought shares in EQT for the first time since its 2019 IPO; 2) ahead of Kinnevik’s 12 May AGM, we highlight the return of Cristina Stenbeck as chair and the potential for share buybacks at a 40% discount to NAV; and 3) Lundbergs bought shares in its existing holdings for SEK512m.

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

From the past week, we highlight: 1) we lowered our target price for Latour to SEK300 (340) following a Q1 report with a slight NAV decline but strong organic order intake growth; 2) Investor bought 6.3m Ericsson shares, and we highlight its successful top-ups in the name; 3) insider purchases at Investor are in our view a signal to look beyond a relatively small discount to NAV; and 4) Flat Capital reported Q1 NAV down 1% QOQ.

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

From the past week, we highlight: 1) we lowered our target price in Investor to SEK320 following a 9% write-down of Patricia Industries in its Q1 report; 2) we reduced our target price in Kinnevik to SEK100 to reflect macroeconomic headwinds, but remain positive ahead of Cristina Stenbeck’s return as chair; 3) we cut our VEF target price to SEK2.5 on FX movements and see re-rating potential from e.g. ongoing buybacks; and 4) we lowered our target price in Flerie to SEK57 given worsening funding ...

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

From the past week, we highlight: 1) we are encouraged by the return of Cristina Stenbeck as chair of Kinnevik, and believe it could result in a lower discount to NAV; 2) VEF completed a milestone partial exit of Juspay at a 37% IRR, putting it on track to pay down debt and repurchase shares at a 50% discount to NAV in the near term; and 3) for Industrivärden, we recently reiterated our HOLD and lowered our target price to SEK345 (400), as we see risk to the earnings outlook of its portfolio com...

Linus Sigurdson
  • Linus Sigurdson

Industrivärden (Hold, TP: SEK345.00) - Caught in a market headwind

We remain on the sidelines following Industrivärden’s Q1 report, reiterating our HOLD but with a lowered SEK345 (400) target price. While this reflects forward NAV growth of 26%, we have raised our target discount to NAV to 20% to account for the current macro situation (potential near-term volatility in its portfolio companies’ earnings outlook). We see clearer near-term value in its main owner Lundbergs given its defensive portfolio characteristics, a lower portfolio-weighted US exposure and a...

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