Paynova – Investors, and management shows confidence

Research Note

2019-09-26

12:27

Today Paynova announced new rights issue of combined SEK 25.2 million, and subscription commitments and underwritings almost entirely guarantee the issue. The imminent capital need was something we have highlighted multiple times, so the issue was not a surprise for us. It’s positive for Paynova with the strong investor backing. That the management team also takes their pro-rata, +11% of shares today, shows confidence in our view.

KL

TO

Kristoffer Lindström

Tomas Otterbeck

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