Publication of prospectus for Nyfosa AB
Hemfosa’s subsidiary, Nyfosa AB (“Nyfosa”), has prepared a prospectus with respect to the admission to trading of Nyfosa’s shares on Nasdaq Stockholm. The first day of trading is expected to be November 23, 2018.
The prospectus has been approved and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is available on Hemfosa’s website, www.hemfosa.se, and Nyfosa’s website, www.nyfosa.se.
Objectives, financial risk limitations and dividend policy
As set out in the prospectus, Nyfosa’s objectives, financial risk limitations and dividend policy are established as follows.
- Generate long-term high and stable return with a focus on growth.
Growth and profitability targets
- Average annual growth in earnings and the property portfolio of at least 20 percent up to a total property value of SEK 25 billion (excluding shares in joint ventures).
- At least 15 percent return on equity over time, before paid tax.
Financial risk limitations
- Long term, the equity/assets ratio is to amount to at least 25 percent.
- The loan-to-value ratio should not exceed 65 percent.
- The interest-coverage ratio should not fall below a multiple of two.
- Profits generated will primarily be reinvested to leverage business opportunities and achieve the growth target of a total property value of SEK 25 billion, after which a significant portion of the profit will be distributed to the shareholders in the form of dividend, redemption and/or repurchase of shares.
Timetable for distribution and listing of Nyfosa AB on Nasdaq Stockholm
November 19, 2018 Final date for trading in Hemfosa’s ordinary share with the right to distribution of shares in Nyfosa
November 20, 2018 Hemfosa’s ordinary shares are traded excluding the right to distribution of shares in Nyfosa
November 21, 2018 Record date for receiving shares in Nyfosa
November 23, 2018 Expected first day of trading in Nyfosa’s shares on Nasdaq Stockholm
For further information, please contact:
Bengt Kjell, Chairman of the Board of Hemfosa and Nyfosa, mobile +46 70 594 53 98
Caroline Arehult, CEO Hemfosa, mobile +46 70 553 80 26, firstname.lastname@example.org
For questions regarding Nyfosa:
Jens Engwall, CEO Nyfosa, mobile +46 70 690 65 50, email@example.com
About Hemfosa Fastigheter
Hemfosa is a Swedish property company focused on community service properties in the Nordic region, with the Swedish state and municipalities as its largest tenants. This provides stable revenue flows and a healthy yield. Hemfosa also aims to create value through active participation in the transaction market. At September 30, 2018, Hemfosa owned properties with a total property value of approximately SEK 35.6 billion. The company’s ordinary share has been listed since March 2014, and the preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se