Swedish Landlord SBB Slumps to Five-Year Low as Dividend Halted
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Swedish landlord SBB saw its share price fall to the lowest level in nearly five years after the company announced plans to postpone a dividend and cancel a rights issue intended to shore up its finances.
Shares in Samhallsbyggnadsbolaget i Norden AB — as SBB is formally known — dropped as much as 9.5% when trading started in the Swedish capital. That compounded the losses from Monday when the stock slumped 20% following a credit rating cut to junk by S&P Global Ratings.