OSLO, Sept 25 (Reuters) - Shares of Swedish property group SBB (SBBb.ST) rose 37% in early trade on Monday after it announced on Sunday it would reorganise its business, securing an 8 billion crown ($719 million) cash boost and ending a strategic review.
"The fact that SBB is freeing up 8 billion crowns must be seen in a very positive light.
In a crisis, it is almost all about having liquidity, and SBB is getting it now," Carlsquare analyst Bertil Nilsson said.
SBB, which has seen its shares plunge 95% since early 2022 on concerns over the group's viability, also on Sunday presented a decentralised structure to boost its transparency and funding options.
($1 = 11.1296 Swedish crowns)Reporting by Terje Solsvik and Jesus Calero, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.
Persons:
Bertil Nilsson, Terje Solsvik, Jesus Calero, Anna Ringstrom
Organizations:
SBB, EduCo, Brookfield Asset Management, Brookfield, Core Infrastructure Partners, Thomson
Locations:
OSLO, EduCo, Brookfield, Swedish