Debt-laden landlord SBB at 1-yr high after chair buys shares

Samhallsbyggnadsbolaget I Norden AB

19/09/2024 13:55

** Shares in Swedish real estate company SBB  SBBb.ST  are up
13%, trading at their highest level since May last year, after
the chairman of the debt-laden group buys shares for over 7
million Swedish crowns ($689,159.52) 
    ** Shares are on track for their biggest single-day jump in
four months, if gains hold
    ** "SBB shares have been on a positive recovery trend since
May 2024, and the fact that the new chairman Lennart Sten is
buying SBB shares is another sign that things are looking up for
the company," says Carlsquare analyst Bertil Nilsson
    ** SBB shares are up 57% year-to-date; shares are down 87%
since their peak in 2021
     
($1 = 10.1573 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))