Gimv - Overhang prevents rerating but implies an opportunity
Gimv's share price has been weak since the Flemish government announced it wants to sell its 27% stake. We expect a substantial discount will be required to sell the block, hereby impacting the share price materially as wellHence, until the block is fully sold, we believe the overhang will prevent a rerating for Gimv, trading wise, despite posting strong results. Assuch, it will prevent it from outperforming for the time beingHowever, for investors, the moment of the placement could be an ideal opportunity to rake in shares at an (even) larger discount, offering an interesting return in our viewGimv isGIMV is a listed investment company, specializing in private equity and venture capital and active in small and medium buyouts, growth financing and technology investments. Co. is also present with technology investments across Europe and in Israel, Japan and the USA. Co. invests in ICT (Technology), environmentally friendly technology (Cleantech) and Life Sciences.
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