Kinnevik's Q3 NAV improves by 3 percent

During the third quarter, Kinnevik’s net asset value of 92 billion Swedish krona (9.5 billion dollars) or 334 Swedish krona (34.7 dollars) per share, increased by 3 billion Swedish krona or 3 percent, which the company said, was primarily driven by positive share price development in Zalando and Tele2, and partially offset by weaker share price performance in GFG and Millicom. Net debt position decreased by 4.9 billion Swedish krona to 0.8 billion Swedish krona, mainly as a consequence of the sell-down in Zalando and the extraordinary dividend from Tele2.

“In the third quarter, Kinnevik took important steps in executing our strategy and we made significant investments in our healthcare portfolio. I am excited about the next chapter for Kinnevik and I am convinced that we have the portfolio, the team and the pipeline to execute our strategy,” said Georgi Ganev, CEO of Kinnevik.

The company completed a sell-down of a 5 percent stake in Zalando, generating gross proceeds of 5.9 billion Swedish krona (0.6 billion dollars) and announced the intention to distribute Kinnevik’s entire Millicom shareholding to its shareholder.

The company added that Kinnevik has appointed Erika Söderberg Johnson as Chief Financial Officer, starting at the latest on April 6, 2020.

Picture:Zalando newsroom