Published: 2017-05-17 08:00:00 CEST
Vostok Emerging Finance Ltd
Interim information

Financial Report for the First Quarter 2017

Stockholm, 2017-05-17 08:00 CEST (GLOBE NEWSWIRE) --  

Financial Result

Net result for 1Q17 was USD 7.06 million (mln) (1Q16: USD 2.45 mln). Earnings per share were USD 0.01 (1Q16: USD 0.0037).

The positive net result over the period is primarily driven by the revaluation of REVO Technology and Sorsdata.

Net Asset Value

The net asset value of Vostok Emerging Finance (“VEF” or the “Company”) was USD 151.5 mln as at March 31, 2017 (December 31, 2016: USD 144.3 mln).

Net asset value per share was USD 0.23 (December 31, 2016: USD 0.22).

Based on the period end USD/SEK exchange rate of 8.93 (December 31, 2016: 9.10), it was SEK 1,353 mln (December 31, 2016: SEK 1,313 mln) and SEK 2.05 per share (December 31, 2016: SEK 1.99 per share), respectively.

Key Events during the Period

On January 19, 2017, VEF announced an investment of USD 9 mln into Iyzico, a leading Turkish payment solution provider.

VEF announced on January 20, 2017, that it had agreed to additionally invest up to USD 5 mln in REVO Technology and Sorsdata.

Key Events after the end of the Period

On April 20, 2017, VEF agreed to invest an additional USD 0.4 mln into FinanZero, leading the investment round totalling USD 0.5 mln.

On April 21, 2017, the Company concluded the second and third tranche pertaining to the agreed total investment of USD 1 mln into Finja.

On May 15, 2017, the Company announced an investment of of USD 3.3 mln into Nibo, a leading player on the Brazilian Accounting SaaS space, connecting SMBs and accountants on the Nibo platform.

As at April 30, 2017, VEF’s net asset value was USD 154.6 mln (SEK 1,366.2 mln at a USD/SEK exchange rate of 8.84), or USD 0.23 per share (SEK 2.07).

    

The Company will hold a telephone conference with an interactive presentation at 16:00 CEST (10:00 a.m. EDT) Wednesday, May 17, 2017. For call-in details, see separate press release issued Wednesday, May 10, 2017 at www.vostokemergingfinance.com.

 

For further information please contact:
Henrik Stenlund, CFO: +46 (0)8-545 015 50

 

Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.

Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB. 

This information is information that Vostok Emerging Finance Ltd is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on May 17, 2017.


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