Investment AB Kinnevik (publ) ("Kinnevik") today announced that it intends to subscribe to its pro rata share of the rights issue in CDON Group AB (publ) ("CDON") and to guarantee the remaining part of the issue.
The issue, which entails preferential rights to subscribe for new shares for the existing shareholders of CDON, will amount to approximately SEK 500m and it will be fully underwritten by Kinnevik, CDON's largest shareholder. Kinnevik, that together with subsidiaries holds 25% of the capital and votes in CDON, has also undertaken to subscribe for its pro rata share of the issue.
The underwriting is conditional upon the extra general meeting of CDON approving the rights issue with qualified majority. Kinnevik has been granted exception from a mandatory bid by the Swedish Securities Council (Sw: Aktiemarknadsnämnden) in connection with the subscription undertaking and the underwriting (see AMN 2013:20, available at www.aktiemarknadsnamnden.se).
Kinnevik discloses the information provided herein pursuant to the Securities Market Act (Sw. lagen om värdepappersmarknaden (2007:528)). The information was submitted for publication on 17 April, 2013 at 08.00 (CET).
For further information on the rights issue, please refer to CDON at www.cdongroup.com.
|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 the following comprehensive business sectors; Telecom & Services, Online, Media, Microfinancing, Paper & Packaging, and Agriculture & 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.