|Real-time Estimate - 11/26 11:29:59 am|
Avanza Bank : reduces its holding in Stabelo and strengthens its fourth quarter profit
|10/28/2020 | 02:15am|
Stabelo completes a new share issue and in connection with this, Avanza reduces its holding in Stabelo to 19.8%. The sale of shares and the revaluation of the remaining holding will strengthen Avanza's profit for the fourth quarter by
Stabelo completes a new share issue with a valuation of
Avanza will generate income of
After the reduced ownership, Stabelo is classified as a shareholding and thus no longer as an associated company of Avanza. As result, in the future Avanza will value the holding at fair value via other comprehensive income.
“There was significant interest in Stabelo’s new share issue. We sell some of our shares to facilitate a sound ownership structure and thus also get back our original investment. With the remaining shareholding, we continue to see great opportunities to generate added value for our shareholders, ”says
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Avanza is a digital platform for savings and investments, founded in 1999.
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