SBB Sells Shares in JM for SEK 2.8 billion

Ilija Batljan, CEO of SBB Norden.

Image: SBB

SBB Sells Shares in JM for SEK 2.8 billion

Sweden — SBB has sold 19 million shares in JM to Swedish and international investors. The transaction represents approximately 29.5 percent of the outstanding shares and votes in JM and was priced at SEK 148.10 per share, resulting in a total purchase price of approximately SEK 2.8 billion. The price per share corresponds to the closing share price in JM on Nasdaq Stockholm on 11 May 2023.

2023-05-12

Following the transaction, SBB’s holding in JM, directly and through derivatives, amounts to approximately 1.9 million shares, corresponding to approximately 2.9 percent of the shares and votes in JM.

Ilija Batljan, CEO and Founder of SBB: ”The sale enables a focus on the company's core business and a further strengthening of SBB’s financial position.”

SBB has undertaken not to sell any additional shares in JM during a period of 90 days with certain customary exceptions.

The price for the shares have been negotiated at arms-length with investors and is considered by SBB, after discussing with SEB, to be at market.

SBB intends to use the net proceeds from the transaction to strengthen the company’s liquidity and financial position.

Skandinaviska Enskilda Banken AB acted as Sole Global Coordinator and Bookrunner in the share sale and Advokatfirman Vinge acted as legal advisor.

Axel Ohlsson

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