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February 15, 2012
Foreign investors thrive on the Stockholm exchange: report
Published: 31 Jul 09 14:28 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/21034/20090731/
The Stockholm stock exchange has retained its allure among foreign investors who now own 35 percent of its total value, new figures published on Friday.
- Tax agency targets Chinese pop star (30 Jun 09)
- Latvia fears prompt rollercoaster ride for Swedish bank shares (4 Jun 09)
- Foreign students help boost numbers at Swedish colleges (27 Apr 09)
Strong gains in these company as well as tobacco products firm Swedish Match and Lundin Petroleum, have meant that the the share of the exchange owned by foreign investors has increased from 34.8 percent at the end of 2008 to a current 35.3 percent, according to the figures from SIS Ownership Data Corp (SIS), a company which tracks data about companies listed on the Stockholm exchange.
With 75 percent of its stock in the hands of foreign investors, truck maker Scania is the major company with the highest level of overseas ownership.
German firm Volkswagen, with its 30 percent stake in Scania, is thus second only to Finnish insurance giant Sampo in the table of major foreign investors on the Stockholm exchange.
Sampo's holdings in Stockholm are based on its 18 percent stake in Scandinavian bank Nordea and amounts to a total value of 46.5 billion kronor ($6.3 billion).
The third largest foreign owner on the Stockholm exchange is the Finnish state with total investments worth 26 billion kronor.
The Stockholm stock exchange was acquired by NASDAQ for in February 2008 and has a market capitalization of around 2,500 billion kronor.
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it always used to be the ridiculously unfair A and B share structure that put off foreign investors from the Stockholm exchanges ... and consequently saw Swedish quoted companies typically trade at lower valuation multiples than their foreign peers with more sensible share voting rules
sounds like some of these major foreign holdings are strategic pending takeover (eg VW in Scania) rather than a huge vote of foreign confidence in corporate Sweden