There’s more news emerging today than you can poke a stick at. More reports to come very shortly, but first……
Bloomberg news are covering news about Spyker’s potential listing on the Swedish stock exchange.
Jan. 4 (Bloomberg) — Spyker Cars NV, the owner of Saab Automobile, plans to tell shareholders in May whether it intends to list the company on the Swedish stock exchange, Chief Executive Officer Victor Muller said.
“I think the annual shareholders meeting is an ideal forum to look at what we’re thinking in terms of the dual listing,” Muller said in a telephone interview today.
…..The annual general meeting, where the issue now will be discussed, will be held May 19, he said.
….“You first have a dual listing, then you see where the trade is gravitating to,” he said. “Is it gravitating to Stockholm, as everybody is anticipating, or is most of the trades still taking place in Amsterdam? Then you make your decision” on whether to have only one listing.
While Spyker has no plans of issuing more shares, the Stockholm exchange may be a better market if the company decides to raise funds in the future, Muller said.
…..“We clearly have no intentions of diluting the shares,” he said. “We don’t need the money. So we don’t foresee any share issue at this time, but who knows, maybe in many years it becomes a vehicle for future funding.”
Spyker had 81 million euros ($108 million) in cash as of Sept. 30, excluding 114 million euros in “restricted” cash set aside for liabilities such as pensions. The company reported net debt of 82.5 million euros at the time.
Spyker rose 23.8 cents, or 6.9 percent, to 3.70 euros as of 4:23 a.m. in Amsterdam. The stock rose 63 percent in 2010, the third-best performer in the Amsterdam Small-Cap Index.