Stockholm, 2015-11-18 08:00 CET (GLOBE NEWSWIRE) --
- Net result for the period was USD 150.46 million (mln) (January 1, 2014–September 30, 2014: –128.51). Earnings per share were USD 2.04 (–1.61). Net result for the quarter was USD 97.67 mln (–37.47). Earnings per share for the quarter were USD 1.33 (–0.50).
- The net asset value of the Company was USD 508.71 mln on September 30, 2015 (December 31, 2014: 388.47), corresponding to USD 6.92 per share (December 31, 2014: 5.24). Given a SEK/USD exchange rate of 8.3882 the values were SEK 4,267.13 mln (December 31, 2014: 3,034.62) and SEK 58.06 (December 31, 2014: 40.95), respectively.
- The group’s net asset value per share in USD increased by 32.02% over the period January 1, 2015–September 30, 2015. During the same period the RTS index decreased by 0.12% in USD terms. During the quarter July 1, 2015–September 30, 2015 the group’s net asset value per share in USD increased by 16.03% (RTS index: –14.85%).
- During the third quarter, the Company made four new investments: a USD 1 mln investment in el Basharsoft (Wuzzuf and Forasna, where Wuzzuf is one of the leading job verticals in Egypt), a USD 7.5 mln investment in Merro, a Dubai-based online marketplace investment platform, a USD 4 mln investment in OneTwoTrip, Russia’s leading travel vertical, and a USD 34 mln investment in BlaBlaCar, the world’s largest long-distance ridesharing community.
- Vostok Emerging Finance Ltd (VEF) with its holding in Tinkoff Bank was transferred to the shareholders via a spin-off and trading in the SDRs of VEF commenced on First North on July 16, 2015.
- The number of outstanding shares at the end of the period was 73,499,555.
- After the end of the reporting period, the Company obtained a USD 25 mln secured credit facility from Pareto Bank ASA, Pareto Securities AB and Pareto Securities AS.
- After the end of the reporting period, the Company made an EUR 3.5 mln (USD 4 mln) investment in Wallapop.
- In October, the Company announced a material secondary transaction in its largest portfolio holding, Avito AB (“Avito”). Under the transaction, Naspers Limited, has agreed to acquire secondary shares from other existing shareholders, thereby increasing its stake from 17.4% to 67.9% of the outstanding shares in Avito at an equity valuation of USD 2.7 bn. Vostok New Ventures has valued Avito as per September 30, 2015 on the basis of the price in this transaction, resulting in a significant positive revaluation by approximately 37% compared to the Company’s valuation of Avito as per June 30, 2015.
The Company will hold a telephone conference with an interactive presentation at 16:00 CET (10:00 a.m. EST) Wednesday November 18. For call-in details, see separate press release issued Monday, November 16, 2015 at www.vostoknewventures.com.
