The Board of Directors in Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) have decided to evaluate the conditions for a listing of the subsidiary Sveafastigheter. Sveafastigheter will prior to the listing own residential real estate through direct ownership, joint ventures as well as listed shares for a total value of approximately SEK 15 billion, of which SBB’s net asset value corresponds to approximately SEK 8 billion. SBB intends to divest around 70 percent of the shares in the company in connection with the listing. The Board believes that the listing of Sveafastigheter will enable increased shareholder value through continued focus and specialisation. Furthermore, the proceeds are expected to enable a decreased debt level and thereby further strengthening the company’s financial position.
”SBB has recently experienced a large interest from international investors in Sveafastigheter and its residential development activities in the Stockholm region, as well as its strong commitment to sustainability issues. The transaction further refines SBB’s operations with an even sharper focus on social infrastructure,” says Ilija Batljan, CEO and founder of SBB.
SBB will continue to build on its vision of being the best European real estate company for social infrastructure in areas such as education, retirement homes and LSS housing. In addition to the community service properties, SBB has over the years built up an attractive complementary portfolio of rent regulated residentials and a portfolio of development properties and associated companies.
Sveafastigheter will own 5,000 apartments. In addition to this, Sveafastigheter also holds a large building rights portfolio for over 4,900 apartments and will control 25 percent of Heba Fastighets AB, which at the end of 2022 owned properties worth SEK 15.7 billion.
Sveafastigheter’s management portfolio is 100 percent focused on the Stockholm-Mälardalen region. There is a large and long-term focus on sustainability within the organization and all properties that are built are constructed so that they at least achieve the Miljöbyggnad Silver classification (Swedish classification for sustainable buildings). In addition to this, Sveafastigheter has won several awards regarding architecture, sustainability and satisfied tenants.
For further information, please contact:
Ilija Batljan, CEO and founder of Samhällsbyggnadsbolaget i Norden AB, [email protected]
This disclosure contains information that Samhällsbyggnadsbolaget i Norden AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23 February 2023 at 07:00 CET.
Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. Further information about SBB is available at www.sbbnorden.se.