Stockholm, May 15, 2019 (GLOBE NEWSWIRE) --
Financial result
> Net result for 1Q19 was USD 1.56 million (mln) (1Q18: USD 13.01 mln). Earnings per share were USD 0.00 (1Q18: USD 0.02).
Net asset value
> Net asset value (NAV) was USD 203.07 mln as at March 31, 2019 (December 31, 2018: USD 201.42 mln), an increase of 0.82% in USD over the quarter.
> NAV per share was USD 0.32 (December 31, 2018: USD 0.31).
> NAV in SEK was 1,885 mln as at March 31, 2019 (December 31, 2018: SEK 1,806 mln) and SEK 2.93 per share (December 31, 2018: SEK 2.78 per share).
Key events during the first quarter
> VEF sold its remaining 508,258 shares in Tinkoff Bank, at a value of USD 8.71 mln, completing its first portfolio exit.
> VEF repurchased 630,000 Swedish Depository Receipts (SDRs) in the Company for the purpose of delivery of SDRs in connection with the Company’s long-term incentive programs.
> Nibo, Brazilian small business accounting SaaS company, closed a financing round whereby VEF invested an additional USD 2.0 mln.
> VEF invested a further USD 0.25 mln in iyzico by way of a purchase of secondary shares, closing out our broader USD 2 mln investment in this round.
Key events after the end of the period
> On April 30th 2019 FinanZero closed a Series B investment round of SEK 100 mln (USD 10.5 mln) where VEF invested an additional SEK 957,000 as part of the round.
The Company will hold a telephone conference with an interactive presentation at 15:00 CEST (09:00 a.m. EDT) Wednesday, May 15, 2019. For call-in details, see separate press release issued Wednesday, May 8, 2019 at www.vostokemergingfinance.com.
For further information please contact:
Henrik Stenlund, CFO: +46 (0) 8-545 015 50
Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.
Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB, +46 8 402 50 00, certifiedadviser.se@paretosec.com.
This information is information that Vostok Emerging Finance Ltd is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication at 08:00 CET on May 15, 2019.
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