Hexatronic tops STOXX after joining Swedish small cap index

Hexatronic AB

02/12/2022 11:35

** Shares in Hexatronic  HTRO.ST  are up around 8% after the
producer of electronic and technical solutions was included in
the small cap OMX Stockholm Benchmark index  .OMXSBGI  on
Thursday morning
    ** According to Danske Bank analyst Jacob Edler, the rise is
mainly a somewhat late reaction to the Thursday inclusion in the
index, which he says drives the volumes
    ** Edler adds that the stock is also still reacting to the
news from Tuesday, when the company's CEO and deputy CEO sold
385,000 and 185,000 shares respectively while remaining
long-term shareholders, causing a down trading move of around
10%
    ** He says Hexatronic shares are up 15 times since the
management received performance based C-shares in 2019, and that
they had some "unfavorable kind of tax obligations on those
shares," which they had to cover personally
    ** "I think investors in general were fearing that it had
something to do with the operational performance per se, but
they are now more confident that it's rather a personal matter
related to these tax obligations" Edler adds
    ** Hexatronic Group is the top performer on the pan European
STOXX 600 index  .STOXX 
    ** The stock is up around 60% year-to-date
 (Reporting by Louise Breusch Rasmussen)
 ((Louise Breusch Rasmussen))