ISP and Sampension sold shareholding of 10 per cent in Boozt for 725 mln kr
4 February 2021
ISP Pension and Sampension have sold their shareholding of almost 10 per cent. in the online store Boozt for a total of approx. 725 million kr.
There are always special circumstances behind a sale, and the sale of Sampension and ISP’s relatively large shareholding of almost 10 per cent. or just over 6 million. shares in the Swedish online fashion platform Boozt are no exception. But there are also some completely natural reasons.
“Sampension entered Boozt early several years before the listing in Stockholm. We were also part of the board until 2019 and have followed their skilled development of the business and with interest seen how good they are at e-commerce and logistics. In 2020, the share price also became so positive that a sale became more and more interesting, ”says Philip Jagd, share manager in the Sampension community.
The price is now fluctuating between 160-180. The price increases began in the third quarter of 2019 and gained real momentum throughout 2020. The background is, among other things, that companies such as Boozt have benefited from changed consumption patterns during the corona pandemic.
“We have always believed in their growth opportunities and potential earnings and have bought more up in 2020 and with a strong operational execution, they have delivered high sales growth and customer access in a very short time,” says Philip Jagd.
The Boozt share is listed on Nasdaq in Stockholm and since November 2020 also on the Copenhagen Stock Exchange. The company has created a billion-dollar business by selling clothes and beauty products online and aims to become the dominant player in the Nordic region and the largest in its field.
Source: ISP
