SBB shares jump on sale of Heba stake

Heba Fastighets AB

04/07/2023 16:18

STOCKHOLM, July 4 (Reuters) - Swedish real estate group
SBB  SBBb.ST  has sold almost all of its stake in property
company Heba  HEBAb.ST , a notice from Sweden's financial
watchdog showed on Tuesday, sending SBB's own shares up 15%.
    SBB reduced its holdings to 0.7% of Heba's outstanding
shares on June 29, according to Sweden's Financial Supervisory
Authority, to which major changes in ownership of listed
companies must be reported. 
    SBB's first-quarter financial report said it owned 24.8% of
Heba's shares by the end of the quarter.  
    Shares in SBB were up 15% at 1446 GMT but it has still lost
more than two thirds of its value since the start of the year. 
    SBB, one of Sweden's largest commercial landlords and owner
of many rent-regulated residential and community service
properties, has been fighting for survival, with its shares
plunging on concerns over its financial position. 

 (Reporting by Johan Ahlander
Editing by David Goodman)
 ((johan.ahlander@thomsonreuters.com; +46 707 211027; Reuters
Messaging: johan.ahlander.reuters.com@reuters.net))