Academedia jumps after Sweden's right-wing opposition inches ahead

AcadeMedia AB

12/09/2022 12:13

** Shares in the Swedish private school company Academedia
 ACADE.ST  jump 15%, paring gains after rising as much as 23.1%,
after Sweden's right-wing opposition parties inched ahead to win
a narrow majority in the parliament  urn:newsml:reuters.com:*:nL1N30I03D
    ** "We seem to be heading for a right-sided government in
Sweden the coming 4 years and the parties involved in that
government are backing the independent school actors which is
why the stock is performing well today," ABG Sundal Collier
analyst Stefan Knutsson said in an emailed response to Reuters
    ** The stock fell around 9% last September after the Swedish
Social Democrats' proposal to tighten rules for education
companies  urn:newsml:reuters.com:*:nL8N2QN445
    ** "Now with continued expansion in Germany, lower debt and
decreased political uncertainty we find a compelling case,"
Knutsson added
    ** The group in late August proposed a dividend of SEK 1.76
per share, corresponding to SEK 185 million ($17.70 million)
 urn:newsml:reuters.com:*:nFWN3060B9
    


($1 = 10.4537 Swedish crowns)

 (Reporting by Jagoda Darlak)
 ((jagoda.darlak@tr.com))