Brief: Kinnevik Says It Has No Exposure To SVB, Some Investee Companies Have

Kinnevik AB

13/03/2023 08:29

March 13 (Reuters) - Kinnevik AB  KINVb.ST :
    * KINNEVIK'S COMMENT ON SILICON VALLEY BANK
    * LESS THAN HALF OF KINNEVIK'S PRIVATE INVESTEE COMPANIES
HAVE
SOME EXPOSURE TO SVB
    * KINNEVIK'S PRO RATA SHARE OF SVB DEPOSITS AMOUNTS TO LESS
THAN
USD 20M
    * A LIMITED NUMBER OF INVESTEE COMPANIES ARE EXPOSED TO AN
EXTENT
WHERE KINNEVIK MADE AVAILABLE SHORT-TERM FUNDING TO ENSURE NO
MATERIAL BUSINESS DISRUPTIONS
    * TOTAL AMOUNT OF THIS ENVISAGED FUNDING, THAT NOW MAY NOT
BE
NECESSARY, AMOUNTS TO USD 6M
    * KINNEVIK ITSELF HAS NO EXPOSURE TO SVB, AND HOLDS ITS SEK
14BN
CASH POSITION IN A MIX OF CASH AND DEPOSIT ACCOUNTS AND MONEY
MARKET INVESTMENTS WITH LARGEST NORDIC BANKS

Source text for Eikon:  ID:nMFNbQGPrv 
Further company coverage:  KINVb.ST 

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