KBC Securities - WHITESTONE GROUP (ROCK) Whitestone Group Acquisition Of 69% Of Lambda-X

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KBC Securities

Sharad Kumar S.P

Whitestone Group Acquisition Of 69% Of Lambda-X

Whitestone Group has acquired 69% of Lambda-X Ophthalmics (LXO) for €5.3m. The rest of the company will be owned by company management (17%) and Invest.BW (14%). Lambda-X Ophthalmics is a division of the Verhaert Group. Lambda-X has developed an exclusive, high value-added range of instruments (NIMO) and software for measuring and characterizing ophthalmic lenses (contact, intraocular) as well as spectacle lenses with special geometries. We welcome this news as after consecutive capital raises, Whitestone Group was sitting on ~€27.6m worth of cash which had to be deployed. Additionally, the new stake in Lambda-X Ophthalmics will add a new layer of diversification in terms of sectors. We reiterate our BUY rating and €14.2 TP.

10/09/2024 1 EN

Underlying

WHITESTONE GROUP

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BE0974401334 Euronext Brussels Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Sharad Kumar S.P

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Whitestone Group Acquisition Of 69% Of Lambda-X

We are a financial services provider for several types of professional clients, each with distinct needs.

Holdings Report - September 2024 Exor Added To The KBC Securities Holdings Universe

Holdings Report - August 2024 KBCS Holdings Universe Up 0.5% Thanks To Multi-Asset Holdings

Akzo Nobel Conference call feedback

Heineken FIRST LOOK: 3Q volumes +0.7%, FY guidance maintained

Morning Notes : AKZA NA, CMBT BB, FAGR BB, HEIA NA, SEQUA BB, ONWD BB

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