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Footway: Enters corporate reconstruction process - SEB

Footway Group has today entered into a voluntary corporate reconstruction process that typically lasts about 3-6 months, with a dedicated commitment to bolster profitability and liquidity ahead of its proposed refinancing. Footway describes current trading in its Nordic markets as price driven, burdening margins. Its stock-in-trade position has built over time, which has also resulted in a less optimal composition. Our current pre-rights issue mid-point value is SEK 5.50.

Footway Group has today entered into a voluntary corporate reconstruction process that typically lasts about 3-6 months, with a dedicated commitment to bolster profitability and liquidity ahead of its proposed refinancing. Footway describes current trading in its Nordic markets as price driven, burdening margins. Its stock-in-trade position has built over time, which has also resulted in a less optimal composition. Our current pre-rights issue mid-point value is SEK 5.50.
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