VEF: On track with more expected - DNB

VEF’s 30%+ NAV CAGR track record and improved ESG assessment have become increasingly credited by the investment community as its discount to NAV has eroded in recent months. VEF offers exposure to a diversified, fast-growing unlisted fintech portfolio. We forecast 30%+ NAV growth to 2022e and have applied a 10% premium to our NAV forecasts. We have raised our fair value to SEK4.6–6.2 (4.0–5.3).

https://www.dnb.no/seg-fundamental/fundamentalweb/GetReportSpon.aspx?file=CMPSP_179253.pdf