Kinnevik participates in Lazada financing round
(Thomson Reuters ONE) -
Investment AB Kinnevik (publ) ("Kinnevik") today announced it has invested EUR
8m in Lazada as part of a EUR 200m financing round led by Temasek and with
participation by Rocket Internet, Kinnevik, Verlinvest and other existing
investors.
Lazada operates Southeast Asia's number one online shopping mall. Since its
operational launch in 2012, Lazada has expanded rapidly with operations in six
countries - Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam -
as well as a sourcing center in Hong Kong that drives cross-border marketplace
activities.
The strong growth momentum has continued this year with sales on Lazada's
websites and mobile applications approximately doubling since June 2014. A key
driver of the growth has been Lazada's Marketplace, a platform for third-party
merchants. With Marketplace sales increasing more than 10 times since January
2014, the platform now accounts for approximately 70% of Lazada's overall
monthly sales.
Kinnevik's CEO Lorenzo Grabau commented:
"Lazada's performance this year, and its convincing transition to a marketplace
model confirms our conviction in the company. We are delighted to welcome
Temasek as a fellow shareholder in Lazada. Temasek is an investment company
based in Singapore with a significant presence in the region, and we look
forward to working with them."
Lazada is valued at EUR 957.8m (or EUR 1 billion considering 100% of Lazada's
business) post this investment round and Kinnevik's stake will be 9.5%. As
reported in the interim management statement as per 30 September 2014, the
difference between the book value and the value applied in the latest
transactions in the unlisted portfolio amounted to SEK 2.2 billion as per 30
September. Had the equity value implied by today's transaction been applied as
the latest transaction value of Lazada as per 30 September 2014, this difference
would have been approximately SEK 300m higher.
For further information, visit www.kinnevik.se or contact:
Torun Litzén, Director, Investor Relations Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83
Investment AB Kinnevik is a leading, long-term oriented, investment company
based in Sweden. Kinnevik primarily invests in consumer centric businesses that
provide innovative and value-added technology-enabled services. Our main areas
of focus are the Communications, e-Commerce, Entertainment and Financial
Services sectors. We own significant stakes in over 50 companies that operate in
more than 80 countries across five continents, with a particular emphasis on
growth markets. The Kinnevik Group employs more than 90 000 people around the
world.
Kinnevik actively supports the companies in which it invests and plays an
influential role on their respective Boards. Kinnevik was founded in 1936 by
three Swedish families who continue to play a leadership role in the ownership
of the Company and in the pursuit of its entrepreneurial ventures.
Kinnevik's shares are listed on Nasdaq OMX Stockholm's list for large cap
companies under the ticker codes KINV A and KINV B.
Press release:
http://hugin.info/1114/R/1875489/660896.pdf
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GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kinnevik via GlobeNewswire
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