Esmaeilzadeh Holding adjusts the fair value of its holding in Rebellion
Esmaeilzadeh Holding AB (publ) ("EHAB") has, as part of its recurring portfolio valuation process, decided to adjust the fair value of EHAB’s holding in the portfolio company Rebellion Capital AB ("Rebellion") by approximately SEK -265 million, compared to the value as of 30 September 2025. The fair value of the holding thus amounts to approximately SEK 282 million. The adjustment entails a decrease in EHAB’s net asset value (NAV) by approximately 6.1%.
EHAB has decided to adjust the fair value of EHAB’s holding in the portfolio company Rebellion. The decision follows from EHAB’s valuation principles, which is based on an adopted valuation hierarchy. The hierarchy stipulates that significant weight is placed on recent transactions that are deemed to reflect the fair value of the relevant holding.
Rebellion’s board of directors has recently approved that Rebellion converts certain outstanding earn-outs into shares in Rebellion, which is expected to be approved by a general meeting. EHAB’s assessment is that these transactions have been made on market terms and that the valuation underlying the conversions provides a true and fair view of the share’s fair value.
In light of the above, EHAB adjusts the fair value of its holding in Rebellion to SEK 282.1 million (SEK 547.1 million as of 30 September 2025). The adjustment will be reflected in EHAB’s NAV for October, which is expected to be published on 17 November 2025.
EHAB continues to work diligently with Rebellion’s management to strengthen Rebellion’s long-term development.
For further information, please contact:
Mikael Ericson, CEO
Email: mikael.ericson@ehab.group
This information is such that Esmaeilzadeh Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on 21 October 2025, 17:50 CEST.
About Esmaeilzadeh Holding AB (publ)
EHAB is an entrepreneurially driven investment company that invests in and develops resilient companies within selected industries. The primary focus is investments in operational groups with opportunities for both organic and acquisition-based growth. For more information, see www.ehab.group.