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    SSAB A   SE0000171100

SSAB AB

(SSAB A)
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Industrivarden Sells Entire 4.3% Stake in SSAB for $243 Million

05/11/2021 | 02:11am EDT

By Dominic Chopping

STOCKHOLM--Swedish investment firm Industrivarden AB said late Monday it has received 2.02 billion Swedish kronor ($242.7 million) from selling its entire holding of 44.3 million Class A shares in steelmaker SSAB AB at SEK45.53 a share.

The divested shares represent 4.3% of the capital and 11.8% of the votes in SSAB, and the sale was by means of an accelerated book-building process to institutional investors, the company said.

"Industrivarden has been a long-term and committed owner with a significant shareholding in SSAB since 1994," Chief Executive Helena Stjernholm said.

"In April 2018, we divested just over half of our investment in SSAB and now the remaining holding has been sold. In this way, we release capital for alternative investments," she said.

Morgan Stanley has acted as sole bookrunner and Carnegie as co-bookrunner in connection with the transaction.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

05-11-21 0210ET

Stocks mentioned in the article
ChangeLast1st jan.
AB INDUSTRIVÄRDEN (PUBL) 0.06% 334.6 Delayed Quote.21.95%
DJ INDUSTRIAL 1.76% 33876.97 Delayed Quote.8.77%
ERICSSON AB 0.28% 108.42 Delayed Quote.10.73%
MORGAN STANLEY 2.20% 85.94 Delayed Quote.22.71%
SSAB AB 0.27% 40.39 Delayed Quote.37.47%
All news about SSAB AB
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07:01aHYBRIT : SSAB, LKAB and Vattenfall first in the world with hydrogen-reduced spon..
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06/16SSABá : Volvo Cars to test fossil-free steel from SSAB's HYBRIT venture
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06/16SSAB, Volvo Cars Team Up To Develop Fossil-Free Steel For Car Production
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06/16SSABá : Volvo Cars is first carmaker to explore fossil-free steel with SSAB
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06/09SSABá : Completes $242.7 Million Issue Of Green Bond
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06/09SSABá : issues Sustainability-Linked bond amounting to SEK 2,000 million
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06/07Swedish Mining Company LKAB Ups Holding in SSAB to 16% of Votes
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06/03SSABá : EMTN Prospectus 2021
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05/31PULLING POWER : the green lure of Sweden's industrial far north
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More news
Financials
Sales 2021 84 873 M 9 953 M 9 953 M
Net income 2021 7 118 M 835 M 835 M
Net Debt 2021 5 462 M 641 M 641 M
P/E ratio 2021 5,81x
Yield 2021 4,74%
Capitalization 38 180 M 4 469 M 4 477 M
EV / Sales 2021 0,51x
EV / Sales 2022 0,51x
Nbr of Employees 14 004
Free-Float 81,3%
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Technical analysis trends SSAB AB
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 53,56 SEK
Last Close Price 40,28 SEK
Spread / Highest target 61,4%
Spread / Average Target 33,0%
Spread / Lowest Target 6,75%
EPS Revisions
Managers and Directors
NameTitle
Erik Martin Lindqvist President, Chief Executive Officer & Director
Hňkan Victor Folin Chief Financial Officer & Executive Vice President
Bengt David Harry Kjell Chairman
Martin Pei Chief Technology Officer & Executive VP
Eva Petursson Executive Vice President-Research & Innovation
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