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Footway Group, the online specialist operating a highly automated platform across its 24 European markets, has announced an 85% outcome in its ongoing rights issue (12.7m new shares at SEK 10), adding a net of SEK 124m to be used for working capital, DC automation and debt management (and M&A). Ahead of the Q1 results (31 May), Footway pre-announced that sales and EBITA will decline y/y. We maintain our mid-point DCF value of SEK 20.
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