Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Latour Drops as Swedbank Sees Higher Discount: Stockholm Mover

Investment AB Latour, which owns stakes in Swedish companies such as Assa Abloy AB and Securitas AB, fell the most in over nine months after Swedbank cut its estimates on the value of the group’s unlisted assets and downgraded the shares to reduce.

The share declined as much as 3.7 percent, the biggest intraday drop since May 14. Latour fell 2.8 percent to 141 kronor as of 2:10 p.m. in Stockholm, giving the company a market value of 24.4 billion kronor ($3.8 billion). Swedbank cut the stock from neutral and reduced the price estimate to 138 kronor a share from 140 kronor.

Order intake and sales in Gothenburg-based Latour’s wholly owned industrial operations declined 8 percent in the fourth quarter and earnings before interest and taxes declined 15 percent to 153 million kronor. The company’s unlisted holdings include Hultafors AB, Specma AB and Swegon AB.

Swedbank analyst Niclas Hoglund downgraded his value estimate for Latour’s non-listed holdings and said in a note to clients that the company trades at a net asset value discount of 14 percent, well below the 12-month trend.

“Our neutral portfolio view does not balance downside risks related to the discount,” Hoglund said. It will be “a key negative value driver short-term.”

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.