Nelly Group, a leading online retailer, focusing on the younger (15-25ys) women's segment of the market, this morning announced the terms for its pending rights issue aiming at grossing SEK 53m. Here, we calculate the TERP at SEK 6.90, based on a total of about 12m new shares being issued at a subscription price per share of SEK 4.42. Adjusting our current DCF-based mid-point equity value of SEK 25 for these terms, we estimate our TERP-based mid-point would equal SEK 16.90.
LÄS MER
