Stockholm, 2016-11-16 08:00 CET (GLOBE NEWSWIRE) --
- Net result for the period was USD 83.93 million (mln) (January 1, 2015–September 30, 2015: 150.46). Earnings per share were USD 1.12 (2.04).
- Net result for the quarter was USD 60.85 mln (97.67). Earnings per share for the quarter were USD 0.79 (1.33).
- The net asset value of the Company was USD 632.44 mln on September 30, 2016 (December 31, 2015: 503.44), corresponding to USD 7.87 per share (December 31, 2015: 6.85). Given a SEK/USD exchange rate of 8.6187 the values were SEK 5,450.77 mln (December 31, 2015: 4,204.90) and SEK 67.87 (December 31, 2015: 57.21), respectively.
- The group’s net asset value per share in USD increased by 14.9% over the period January 1, 2016–September 30, 2016.
- During the quarter July 1, 2016–September 30, 2016 the group’s net asset value per share in USD increased by 9.8%.
- The increase of the group’s net asset value per share in USD is mainly driven from a revaluation of the investment in Avito.
- During the quarter, Vostok New Ventures (“Vostok” or “the Company”) completed a transaction where it acquired secondary shares in Paris-based ride-sharing service Comuto SA (“BlaBlaCar”) in the amount of EUR 40.11 mln (USD 45.48 mln), at the same valuation as Vostok’s initial investment in BlaBlaCar in September 2015. The acquisition, which was paid for by newly issued Vostok shares, was approved by the special general meeting of shareholders in Vostok held on August 5, 2016. The new Swedish Depository Receipts (SDRs) for the issued shares were admitted for trading on Nasdaq Stockholm on August 11, 2016.
- In August, Vostok invested an additional USD 2.5 mln in OneTwoTrip.
- In September, Vostok invested USD 1.5 mln into DrBridge (Vezeeta), the leading doctors booking platform in Egypt.
- On October 28, the Company announced that it had entered into an agreement to acquire secondary shares in Comuto SA (“BlaBlaCar”) in the amount of approximately EUR 32 mln at the same valuation as Vostok’s previous investment in BlaBlaCar in July 2016. The acquisition is conditioned on the approval by a special general meeting of shareholders in Vostok on November 18, 2016, and on an approval from the Swedish Financial Supervisory Authority of the prospectus in relation to the listing of the Swedish Depository Receipts (SDRs) for the new issued shares.
- The number of outstanding shares at the end of the period was 80,315,814.
The Company will hold a telephone conference with an interactive presentation at 16:00 CET (10:00 a.m. ET) Wednesday, November 16. For call-in details, see separate press release issued Monday, November 14, at www.vostoknewventures.com.
For further information please contact:
Björn von Sivers, Head of Investor Relations, Tel +46 8 545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
This information is information that Vostok New Ventures Ltd is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on November 16, 2016.
