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CDON yesterday (31 August) announced a directed share issue raising gross proceeds of about SEK 200m to be used for business development and to speed up growth that has recently been burdened by issues relating to search automation and indexation, impacting site traffic and GMV developments. Here, we reckon its important acquisition of Shopit Europe on 5 July (EV of SEK 27m for 30% and an option for remaining shares) is now properly funded.
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