Vinge advises Vostok New Ventures Ltd
Vinge has advised Vostok New Ventures Ltd with capital markets related questions in light of the company’s divestment of its portfolio asset Avito, for in total USD 540 million, equivalent of approximately SEK 4,842 million, as well as in connection with the subsequent split and mandatory redemption program whereby each depository receipt holder (“SDRs”) will receive a cash consideration of SEK 25 per SDR.
In total, the company will redeem approximately 81,000,000 SDRs for a cash consideration amount of approximately SEK 2 billion.
The redemption procedure was approved by a special general meeting in Vostok New Ventures on 14 February 2019. The redemption SDRs will be traded on Nasdaq Stockholm during the period 22 February – 7 March 2019.
Vinge’s team primarily consisted of Jesper Schönbeck, Nils Fredrik Dehlin, Annika Nyberg Ekenberg, Henrik Wastenson and Emelie Svanberg.