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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Sinch AB (publ)    SINCH   SE0007439112

SINCH AB (PUBL)

(SINCH)
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Sinch : Softbank buys 10.1% stake in Sweden's Sinch

12/01/2020 | 02:52am EST
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

STOCKHOLM (Reuters) - Softbank-owned SB Management has bought a 10.1% stake in Swedish cloud computing services provider Sinch, acquiring stakes from some major shareholders and participating in a directed share issue, Sinch said late on Monday.

Sinch said in a statement it had issued 3.2 million new shares at a subscription price of 1.050 crowns per share, a 6.6% discount to Monday's closing price, raising about 3.3 billion Swedish crowns ($386 million) for the firm.

"The company intends to mainly use the proceeds from the share issue to increase the company's financial flexibility for new acquisitions," Sinch said.

The company, which has a scalable platform for messaging, voice and video, said that a fund managed by Softbank subsidiary SB Management had subscribed 1,200,000 shares in the issue.

Sinch added that some larger shareholders, including several co-founders, had also sold 5,200,000 existing shares to SB Management at 900 crowns per share.

The Swedish firm's stock has surged nearly 300% in 2020.

($1 = 8.5474 Swedish crowns)

(Reporting by Johannes Hellstrom; editing by Niklas Pollard)


© Reuters 2020
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Financials
Sales 2020 7 702 M 931 M 931 M
Net income 2020 377 M 45,6 M 45,6 M
Net Debt 2020 924 M 112 M 112 M
P/E ratio 2020 199x
Yield 2020 -
Capitalization 83 344 M 10 051 M 10 075 M
EV / Sales 2020 10,9x
EV / Sales 2021 6,45x
Nbr of Employees 757
Free-Float 62,7%
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Consensus
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 1 087,50 SEK
Last Close Price 1 288,00 SEK
Spread / Highest target 12,6%
Spread / Average Target -15,6%
Spread / Lowest Target -41,0%
EPS Revisions
Managers and Directors
NameTitle
Oscar Werner Chief Executive Officer
Anders Olin President & Chief Operating Officer
Erik Olof Fröberg Chairman
Roshan Saldanha Chief Financial Officer
Jonas Lindeborg Chief Technical Officer
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