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UPDATE 1-Kinnevik sees 2017 investments in line with 2016
February 10, 2017 / 8:47 AM / 7 months ago

UPDATE 1-Kinnevik sees 2017 investments in line with 2016

(Adds CEO comment, details)

Feb 10 (Reuters) - Swedish investment firm Kinnevik sees investments this year in line with 2016, it said after reporting a decrease in net asset value of 3 percent for the fourth quarter.

* “We think the investment level for 2017 will be in line with last year,” acting CEO Joakim Andersson told Reuters

* In 2016 net investments were 2.8 bln SEK ($314 mln)

* Company says clarifies financial targets

* Says aims to deliver an annual total shareholder return of 12-15 pct over the business cycle, vs previous wording of 13 pct

* Says target of “low” leverage means “not exceeding 10 pct of portfolio value” vs previous wording of low or no leverage

* Board recommends an ordinary dividend of 8.00 SEK/share for 2016, up 3.2 pct yr/yr

* Q4 net asset value (NAV) -3 pct to 72.4 bln SEK or 263 SEK/share Source text for Eikon: Further company coverage: ($1 = 8.9135 Swedish crowns) (Reporting by Olof Swahnberg, editing by Anna Ringstrom)

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