SBB hits May lows, analysts point to local media coverage

Samhallsbyggnadsbolaget I Norden AB

04/11/2024 11:04

(Updates share move, adds a comment from the company)
    ** Shares in debt-laden real estate company SBB  SBBb.ST 
fall 20% with analysts pointing to negative coverage of the
stock in local media over the weekend
    ** In an analysis published on Saturday, Swedish business
daily Dagens Industri recommended shareholders to sell the
shares, highlighting SBB's excessive debt and liquidity problems
    ** Carlsquare analyst Bertil Nilsson sees the story as a 
negative catalyst, given the article flags risk of bankruptcy 
        ** "As we have previously communicated, the work to
strengthen the company's financial position continues and is
progressing according to plan," SBB told Reuters in an emailed
response when asked for comment
  
        ** The landlord declined to comment further as it is in
a regulatory quiet period ahead of its third-quarter earnings
report due on Nov. 27.
  
    ** The stock is on track for its worst day since June 2023
  

 (Reporting by Elviira Luoma and Simon Johnson)
 ((Elviira.luoma@thomsonreuters.com))