CORRECT: Investor 3Q NAV/Share Slides 18%; Buys SEK1.1 Billion Of Shares

Swedish investment firm Investor AB (INVE-B.SK) said Tuesday its net asset value per share fell 18% at the end of the third quarter from the second, as a sharp decline in equity markets hit listed companies, adding that it bought SEK1.1 billion worth of shares in existing portfolio companies.

   MAIN FACTS:

-NAV/share dipped to SEK189 on Sept. 30, from SEK231 on June 30, and slightly above analysts' expectations of SEK187.

-Listed holdings weighed the most on NAV while financial investments had a more positive effect.

-The company bought SEK1.1 billion worth of shares in existing holdings ABB Ltd. (ABB), Atlas Copco AB (ATCO-A.SK), Electrolux AB (ELUX-B.SK), Husqvarna AB (HUSQ-B.SK) and Nasdaq OMX Group Inc.(NDAQ).

-Net cash flow from EQT totaled SEK1.6 billion and the contribution to Investor from Investor Growth Capital amounted to SEK400 million.

-CEO Borje Ekholm said the current market could offer attractive long-term investment opportunities and that it was important not to lose sight of growth in Asia and Latin America.

-The company swung to a net loss of SEK31.62 billion from a profit of SEK4.86 billion a year ago, following substantial value changes in mainly listed holdings.

-The company said it was re-building a limited trading operation about one-tenth the size of its old one, closed earlier this year.

-Shares closed Monday at SEK125.70.

-By Anna Molin, Dow Jones Newswires; +46 8 545 131 03; anna.molin@dowjones.com

Nasdaq (NASDAQ:NDAQ)
Historical Stock Chart
From May 2024 to Jun 2024