Kinnevik's Q2 NAV increases by 3 percent

Kinnevik’s NAV increased by 3 percent to 96.4 billion Swedish krona (10.8 billion dollars), or 350 Swedish krona (39.3 dollars) per share, in the second quarter, which the company said, was driven mainly by a positive development in Zalando and Tele2. The value of its private assets increased slightly in the quarter to 12.6 billion Swedish krona (1.4 billion dollars). The company added that Kinnevik ended the quarter with a strong financial position, with net debt of SEK 2.9 billion Swedish krona (0.3 billion dollars), corresponding to a leverage of 3 percent.

”Business activity has continued at a high pace with transformative developments in our public portfolio, as well as new investments into three exciting private companies in our focus sectors,” said Georgi Ganev, CEO of Kinnevik in a statement.

The company further added that an extraordinary general meeting of Kinnevik on July 16, it resolved to distribute Kinnevik’s shares in MTG to its shareholders in order to facilitate the European Commission’s clearance of the proposed merger of Tele2 and Com Hem.

The company also announced that Qliro Group’s new strategic direction will now see Qliro Financial Services, CDON Marketplace and Nelly operate as three independent companies to highlight and increase shareholder value Also Home24 was listed on the Frankfurt Stock Exchange resulting in an increase in the fair value of Kinnevik’s stake of 666 million Swedish krona (74.8 million dollars) during the quarter.

Kinnevik made total investments of 789 million Swedish krona (88.6 million dollars) in the second quarter, wherein 345 million Swedish krona was invested in Livongo and 288 million Swedish krona in three new companies including 80 million Swedish krona for a 20 percent stake in Budbee, a Swedish last-mile logistics company, 67 million Swedish krona for a 13 percent ownership stake in Pleo, a Danish corporate payment card solution company and 141 million Swedish krona for an 8 percent stake in Cedar, a US based healthcare services company.

Picture:Facebook/Zalando