Sinch shines as CEO, main shareholder buy Softbank's stake
30/09/2022 09:01
** Shares of Sinch SINCH.ST trade 4.8% up after rising as
much as 23.7%, after Softbank decided to sell its entire 5%
stake in the company to Sinch's interim CEO Johan Hedberg and
its biggest shareholder Neqst D2
** Carnegie analyst Predrag Savinovic views the news as
positive for several reasons, one being that Softbank has been
causing share pressure and was seen as overhang
** "Main owners and founders buying stock means skin in the
game, commitment, and that they believe in the case," he adds
** Savinovic also points out the acquisition should be a
sign that there is no share issue risk, which some investors
have been discussing
** Andreas Joelsson from Danske Bank says the fact a main
owner together with the CEO are the buyers is a signal that they
do not feel the balance sheet is under pressure
** Following the transaction, Neqst D2 will hold about 18.6%
of Sinch
(Reporting by Agata Rybska)
((agata.rybska@thomsonreuters.com))