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The newspaper writes that the reason the first AP fund wants to sell preferred shares is that plans for a Volvo Cars list have been put on the ice.
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In 2016, pension rights generated preferred shares of SEK 1.5 billion, due to the fact that Volvo Cars issued SEK 5 billion preferred shares to three Swedish institutions. Preferred shares that can then be converted into common shares on a stock exchange.
Rating Signs
The investment of the first AP Fund was then perceived as a clear indication that Volvo Cars would soon be on the list, the risk management plan of the provident society providing that "the shares or other units can not be acquired that in companies that have been issued or in the year following their issuance is deemed to be listed on the stock exchange or on another regulated market. "
In other words, the Fund can not own the shares when the registration of Volvo Cars is not applicable in the next year. Whatever it is, according to analysts and analysts, it is transparent.
Low intermediate report
This is due, among other things, to the unexpected weakness of the interim report and to the fact that the principal owner, Li Shufu, of Volvo Cars, would, according to the Swedish institutions, have demanded too high a valuation when new ordinary shares would be issued in the society.
According to Dagens Industri, the other two funds, AMF and Folksam, do not intend to sell their preferred shares of Volvo Cars.
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