Esmaeilzadeh Holding’s portfolio company Novedo supplements its board and initiates dual track process
One of Esmaeilzadeh Holding AB (publ)'s ("EHAB") largest portfolio companies Novedo Holding AB (publ) ("Novedo") has prepared for an IPO in 2023. The IPO work is proceeding in accordance with plan and as part of this process, Novedo will hold an extraordinary shareholders’ meeting on 12 January 2023, where Jan Johansson, chairman of the board of, among other companies, Serneke Group AB (publ) and OrganoClick AB, has been proposed as the new chairman of the board of Novedo.
In order to further improve the conditions for Novedo's continued growth, EHAB, as main shareholder, has initiated a so-called "dual-track process", which means that in parallel with the IPO preparations, the company will evaluate other possible changes in Novedo’s ownership. Novedo has engaged external advisors for this purpose.
”We feel confident that we during 2023, through the broadening of Novedo’s IPO work with a dual track process, will be able to deliver in line with EHAB’s long-term financial target of holding liquid assets that at least corresponds to the company’s total outstanding debts. With a dual track process, EHAB and Novedo will be provided with more alternatives for Novedo’s continued growth, which will give us opportunities to make the best possible decisions for EHAB and Novedo’s shareholders, customers, investors and employees”, comments Saeid Esmaeilzadeh, CEO and founder of EHAB.
EHAB owns approximately 67 percent of Novedo and as per the 2022 year-end, the reported value of EHAB’s share was approximately SEK 1.1 billion.
For further information, please contact:
Saeid Esmaeilzadeh, CEO and founder
+46 707 18 70 61, saeid@ehab.group
Nils Fredrik Lagerstrand, General Counsel & IR
+46 720 90 26 99, nilsfredrik@ehab.group
The information was submitted for publication, through the agency of the contact persons set out above, at 17.30 CET on 9 January 2023.
About Esmaeilzadeh Holding AB (publ)
EHAB is an investment company that manages and establishes acquisition-oriented companies within a variety of industries and deep niches. EHAB's portfolio is constantly evolving as new opportunities and interesting niches are identified. EHAB’s net asset value amounts to approximately SEK 7.6 billion. For more information, see www.ehab.group.