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Nelly Group: A challenging period to start 2023 - SEB

We expect Q1 trading to be challenging based on site traffic and market sales data for January and February. Based on revised forecasts we set our new mid-point equity value at SEK 15 (TERP-based at SEK 11). Nelly Group, a leading online retailer targeting the younger women’s segment of the fashion market, has announced a pending new issue grossing SEK 53m (12m new shares). We do not include this ongoing new issue in our forecasts yet.

We expect Q1 trading to be challenging based on site traffic and market sales data for January and February. Based on revised forecasts we set our new mid-point equity value at SEK 15 (TERP-based at SEK 11). Nelly Group, a leading online retailer targeting the younger women’s segment of the fashion market, has announced a pending new issue grossing SEK 53m (12m new shares). We do not include this ongoing new issue in our forecasts yet.
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