Brief: Urb-it Writes Down 48% Of Total Investment In Subsidiaries

Urb-it AB (publ)

17/11/2023 15:37

Nov 17 (Reuters) - Urb-it AB (publ)  URBIT.ST :
    * RECORDS A WRITE-DOWN OF ITS GROUP COMPANY INVESTMENTS
    * TO WRITE DOWN VALUE OF ITS GROUP COMPANY RECEIVABLES,
SHARES IN
ITS SUBSIDIARIES BY SEK 209.6 MLN
    * WRITE-DOWN WILL HAVE A NEGATIVE IMPACT ON INCOME STATEMENT
OF
PARENT COMPANY WITH SEK 209.6 MLN
    * WRITE-DOWN AMOUNTS TO 48% OF TOTAL INVESTMENT THAT CO HAS
IN ITS
SUBSIDIARIES
    * RECORDING WRITE-DOWN  WILL NOT IMPACT URB-IT'S CASH FLOW
STATEMENT

Source text for Eikon:  ID:nBQN2phpry 
Further company coverage:  URBIT.ST 

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