Kinnevik invests EUR 67 million in Rocket Internet to maintain its current 24% ownership interest
Investment AB Kinnevik (publ) ("Kinnevik") today announced that it invests EUR 67m into Rocket Internet as part of Rocket Internet's directed new share issue. With this transaction Rocket Internet will have raised approximately half a billion USD over the last 12 months.
Kinnevik's share of Rocket Internet will remain at approximately 24%. The funds will be used to further expand Rocket's network of start-up companies which is already one of the world's largest, with around 75 ventures in over 50 countries and more than 20,000 employees around the globe. For further information see the attached press-release from Rocket Internet.
CEO of Kinnevik, Mia Brunell Livfors, comments:
"Over the past four years, Rocket Internet has been instrumental in the building of Kinnevik's e-commerce investments in companies like Zalando, Lamoda, Dafiti and an additional 75 businesses. With our latest investment in Rocket Internet, Kinnevik further strengthens its partnership with the founders of Rocket Internet and with Access Industries as strategic partner."
The information is of such character, which Kinnevik shall disclose in accordance with the law on Trading with Financial Instruments (1991:980) and/or the Securities Market Act (2007:528). The information was distributed for disclosure at 9.45 a.m. on 16, July 2013.
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director Investor Relations||+46 (0)8 562 000 83|
|+46 (0)70 762 00 83|
Investment AB Kinnevik was founded in 1936 and thus embodies seventy-five years of entrepreneurship under the same group of principal owners. Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The company's holdings of growth companies are focused around the following business sectors; Telecom & Financial services, Online, Media and Industry and other investments. Kinnevik has a long history of investing in emerging markets which has resulted in a considerable exposure to consumer sectors in these markets. Kinnevik plays an active role on the Boards of its holdings.
The Kinnevik's class A and class B shares are admitted to trading on the NASDAQ OMX Stockholm's list for large cap companies, within the financial and real estate sector. The ticker codes are KINV A and KINV B.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Kinnevik via Thomson Reuters ONE
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