Report
Simen Mortensen

Record volumes

Pangea Property research revealed Nordic transaction volumes remained at record levels at end-September, although the tax proposals weighed on the market in Sweden. In other news, Balder’s preference shares were de-listed, and Brunswick’s new company in Finland has already made its first acquisition. The average implied EBITDA yields on the stocks we cover are 4.35% for 2017e and 4.64%for 2018e.
Underlying
Olav Thon Eiendomsselskap ASA

Olav Thon Eiendomsselskap is engaged as a property operator. Co.'s property portfolio is broken down into the following property segments: shopping centres and commercial property. At Dec 31 2013, Co.'s shopping centres comprised the management of 87 shopping centres, of which 27 are managed for external owners.

Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Simen Mortensen

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