The share issue is conducted well under our Base Case of SEK 20, but the lower financial risk and increased operational focus mitigates the dilution effect. We also notice that the Chairman, Daniel Ekberger, has sold 100k shares to RoosGruppen in conjunction with the share issue. The Chairman´s transaction has no impact on our view of the case as he remains as one of the largest owners.
As mentioned in our latest comment on the Q2 report, we will follow up on the report with an update of the case.