Kinnevik news and archive

Christina Stenbeck leaves Kinnevik board of directors

Kinnevik AB has announced that Cristina Stenbeck, Erik Mitteregger and Mario Queiroz have decided not to stand for re-election to Kinnevik's board of directors at the 2019 annual general meeting, and that the nomination committee will propose Susanna Campbell and Brian McBride as new board members. Stenbeck, the company said, was elected to the...

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Kinnevik’s net asset value reduces by 18 percent

In its nine-month report, Kinnevik said that net asset value of 78.8 billion Swedish krona (8.6 billion dollars) or 286 Swedish krona (31.4 dollars) per share, was down by 17.6 billion Swedish krona (1.9 billion dollars) or 18 percent, driven by fall in Zalando’s share price as well as Kinnevik's distribution of its shares in MTG during the...

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Kinnevik's Q2 NAV increases by 3 percent

Kinnevik’s NAV increased by 3 percent to 96.4 billion Swedish krona (10.8 billion dollars), or 350 Swedish krona (39.3 dollars) per share, in the second quarter, which the company said, was driven mainly by a positive development in Zalando and Tele2. The value of its private assets increased slightly in the quarter to 12.6 billion Swedish krona...

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Kinnevik AGM approves dividend, elects Dame Amelia Fawcett as board Chairman

At the annual general meeting, Kinnevik said that its board of directors resolved to distribute a dividend of 8.25 Swedish krona (0.95 dollar) per share for the 2017 financial year, with May 25, 2018 as the record date. The AGM also resolved to re-elect Dame Amelia Fawcett, Wilhelm Klingspor, Erik Mitteregger, Henrik Poulsen, Mario Queiroz and...

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Kinnevik Q1 NAV improves 3 percent led by Zalando and Millicom

For the first quarter ended March 31, 2018, Kinnevik reported net asset value of 93.3 billion Swedish krona (10.9 billion dollars) or 339 Swedish krona per share (39.6 dollars), up 2.7 billion Swedish krona (0.3 billion dollars) or 3 percent during the quarter, led by 1.6 billion Swedish krona (0.19 billion dollars) increase in Zalando and a 0.7...

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Kinnevik proposes to elect Charlotte Strömberg as new board member

Kinnevik AB has announced that in addition to the proposed election of Dame Amelia Fawcett as new Chairman of the board, the nomination committee proposes the re-election of board members Wilhelm Klingspor, Erik Mitteregger, Henrik PouIsen, Mario Queiroz and Cristina Stenbeck and election of Charlotte Strömberg as new board member. The company...

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Kinnevik raises dividend by 3.1 percent

For the fourth quarter of fiscal 2017, Kinnevik AB said in a statement that Zalando had profitable growth in the fourth quarter and delivered on its full-year guidance. Preliminary fourth quarter revenue growth was 21.2-23.2 percent and EBIT margin was 8.1-8.9 percent. Millicom, the company added, reported continued positive growth in Latin...

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Kinnevik proposes Dame Amelia Fawcett as its new Chairman

Kinnevik has said in a statement that its nomination committee will propose the election of Dame Amelia Fawcett as new chairman of the board at the annual general meeting 2018. Fawcett has been a director of the Kinnevik board since 2011 and has served as deputy chairman since 2013. She succeeds Tom Boardman who has decided not to stand for...

Management

Kinnevik NAV improves 3 percent, provides update on new investments

In trading update for the period January 1 to June 30, 2017, Kinnevik said NAV increased by 3 percent to 81.9billion Swedish krona (9.96 billion dollars), or 298 Swedish krona (36 dollars) per share, driven mainly by Zalando and Tele2. Adding back dividend paid of 2.2billion Swedish krona (267 million dollars), the value increase was 6 percent...

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Alibaba invests 1bn dollars to acquire remaining stake in Lazada

Alibaba is all set to acquire Kinnevik and Rocket Internet’s remaining stake in online Southeast Asian platform Lazada for around 1 billion dollars. While Kinnevik’s stake in Lazada stands at 3.6 percent, Rocket Internet holds 8.8 percent stake in the company. In April 2016, Alibaba acquired slightly less than half of Kinnevik’s shares in Lazada...

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Kinnevik appoints Georgi Ganev as its new CEO

Kinnevik has announced the appointment of Georgi Ganev as its new Chief Executive Officer. The company added that Joakim Andersson will remain acting CEO of Kinnevik until Ganev assumes the position as CEO on January 1, 2018. Commenting on the development, Chairman of the Kinnevik board, Tom Boardman, said in a statement, "In Georgi Ganev,...

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Kinnevik sells remaining stake in Rocket Internet

Kinnevik, the Swedish investment company that invested total 155 million euros (173 million dollars) in Rocket Internet between 2009 and 2013, has now sold its entire shareholding for a gross aggregate of 426 million euros (477 million dollars). During the five years prior to the company's 2014 IPO, Kinnevik had received 510 million euros (571...