Bildkälla: Stockfoto

Serneke: Supportive of the bigger picture - Nordea

Serneke has reached an agreement to divest 50% of the JV Karlatornet AB to Balder, meaning the project is now fully financed. This is a major milestone for the company.

In conjunction, Serneke also announced 1) a fully guaranteed rights issue of SEK 170m at a subscription price of SEK 53; 2) a directed share issue of SEK 122m to Balder at a price of SEK 53; and 3) a divestment of 100,000 m2 of building rights to Balder, which will contribute SEK 250m in liquidity through the course of 2021E.

We do not expect the transactions to have an effect on near-term operating profit but do believe it will eliminate financing uncertainties, strengthen the capital base, and provide long-term opportunities to unlock value in Karlastaden.

Marketing material commissioned by Serneke.
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