Aker rises on reports of potential September Nscale IPO
BUZZ-Aker rises on reports of potential September Nscale IPO ** Shares in Aker AKER.OL rise about 3%
** Analysts point to reports of potential September IPO for Nscale, in which the Norwegian industrial investment company holds about 23% stake
** Nordea analyst Sondre Snersrud flags reports of potential Nscale valuation of $25 billion, versus $14.6 billion in the March Series C round
** Per Aker share, this could translate into a net asset value (NAV) "uplift of >300", Snersrud says
** Given the potential for the asset to become liquid and be marked up by more than 70%, and the fact that it represents a significant value in the context of Aker’s portfolio, the share price reaction is hardly surprising, Snersrud adds
** The analyst highlights market is gradually pricing in higher probability that the value of the holding will be both crystallised and ultimately recognized at valuation above its current book value
** AKER is up 75.26% YTD
(Reporting by Alexander Klyve Gudbrandsen)
Recent news on Aker ASA
See all newsAker shares fall on worries over Nscale IPO valuation
Brief: Aker ASA: Conditions For Completion Of Merger With Aker Biomarine Satisfied
Brief: Nscale Files Registration Statement For Proposed IPO
European oil stocks gain as U.S.-Iran exchange attacks, crude rallies
Aker rises 8% after Nscale wins $45 billion data centre contract