Investment AB Kinnevik (publ) ("Kinnevik") today announced that it intends to subscribe to its pro rata share of Transcom's new share issue and guarantee the remaining part of the new issue which is not subject to subscription undertakings from other shareholders.
The issue, which entails preferential rights to subscribe for new shares for the current shareholders of Transcom, will amount to approximately SEK 500 million and it will be fully underwritten by Kinnevik, Transcom's largest shareholder. Kinnevik, that together with subsidiaries holds 22.3% of the capital and 44.5% of the votes in Transcom, has also undertaken to subscribe for it's pro rata share of the issue. For further information on the rights issue, please refer to Transcom at www.transcom.com.
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director, Investor Relations||Phone +46 (0)8 562 000 83|
|Mobile +46 (0)70 762 00 83|
Kinnevik was founded in 1936 and thus embodies more than seventy years of entrepreneurship under the same group of principal owners. Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The company's holdings of growth companies are focused around seven comprehensive business sectors; Paper & Packaging, Telecom & Services, Media, Online, Micro financing, Agriculture and Renewable energy. Kinnevik has a long history of investing in emerging markets which has resulted in a considerable exposure to consumer sectors in these markets. Kinnevik plays an active role on the Boards of its holdings.
The Kinnevik's class A and class B shares are listed on the NASDAQ OMX Stockholm's list for large cap companies, within the financial and real estate sector. The ticker codes are KINV A and KINV B.