Bildkälla: Stockfoto

Swedish Stirling: Initiating ramp-up with innovative financing structure to unlock value in pipeline - Emergers

After having completed the production line in Sibbhult, Swedish Stirling now projects delivery of six PWR BLOKs to Glencore in South Africa before year end, a welcome sign of confidence in the company’s ability to scale up production. With the simultaneous preparations for a preference share issue linked to the emission reductions from the PWR BLOKs, the recent debt financing agreement and insider purchases, and a potential sustainability certification and transfer of the share to the main list, the stage is now set for unlocking the value in the 96 MW pipeline in South Africa. However, in light of the changed market conditions with cost inflation and heightened risk premiums, our combined DCF and multiple valuation now support a fair value of SEK 18-26 (26-36) in 18-24 months.

After having completed the production line in Sibbhult, Swedish Stirling now projects delivery of six PWR BLOKs to Glencore in South Africa before year end, a welcome sign of confidence in the company’s ability to scale up production. With the simultaneous preparations for a preference share issue linked to the emission reductions from the PWR BLOKs, the recent debt financing agreement and insider purchases, and a potential sustainability certification and transfer of the share to the main list, the stage is now set for unlocking the value in the 96 MW pipeline in South Africa. However, in light of the changed market conditions with cost inflation and heightened risk premiums, our combined DCF and multiple valuation now support a fair value of SEK 18-26 (26-36) in 18-24 months.
Börsvärldens nyhetsbrev
ANNONSER