SALB.CPH - Salling Bank A/S

[John Hjorth]

This banks stock is taking a deep nose dive today, really tanking, down 12 - 13 percent during the day, based on an announced capital increase with new shares to be issued below market price [issue price set to DKK 175 per share] with subscription rights for existing shareholders. The purpose of the capital increase is to redeem hybrid core capital going forward.

 

Any of my fellow board members in the Nordics region interested in taking a closer look at this situation? Personally, I haven't looked at it yet, but will.

 

P/B at the end of 2017H1 was 0.6, and P/E measured at the end of 2017H1 is stated in the interim report for 2017H1 to be 5.3 [i have used the numbers as is, without doing any kind of adjustments or any analysis of the numbers [p. 15, note 2 in the interim report for 2017H1]].