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Vostok New Ventures Ltd. (0R8Z)

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Wednesday 15 August, 2018

Vostok New Ventures Ltd.

Vostok New Ventures Ltd. Financial Report for the Second Quarter and the First Six Months 2018

Vostok New Ventures Ltd. Financial Report for the Second Quarter and the First Six Months 2018

Stockholm, Aug. 15, 2018 (GLOBE NEWSWIRE) --

-Net result for the period was USD 12.17 million (mln) (January 1, 2017–June 30, 2017: 8.64). Earnings per share were USD 0.14 (0.10). 

- Net result for the quarter was USD -14.07 mln (-8.69). Earnings per share for the quarter were USD -0.17 
(-0.10).

-The net asset value of Vostok New Ventures (“Vostok” or “the Company”) was USD 892.51 mln on June 30, 2018 (December 31, 2017: 879.99), corresponding to USD 10.55 per share (December 31, 2017: 10.40). Given a SEK/USD exchange rate of 8.9599 the values were SEK 7,996.76 mln (December 31, 2017: 7,244.35) and SEK 94.57 (December 31, 2017: 85.65), respectively.

- The group’s net asset value per share in USD increased by 1.4% over the period January 1, 2018–June 30, 2018.

-During the quarter April 1, 2018–June 30, 2018, the group’s net asset value per share in USD decreased by 1.5%, mainly as a result of the revaluation of Avito, BlaBlaCar and Gett. 

-During the second quarter 2018, Vostok New Ventures invested USD 4 mln into DOC+, a Russian digital health company, for a minority stake of the company. Vostok also did follow-on investments in Gett, el Basharsoft and Agente Imóvel. 

-On June 14, 2018, the Company issued senior unsecured corporate bonds in an amount of SEK 400 million within a total framework of SEK 600 million. The bonds will mature on June 14, 2022 and carry a fixed interest of 6.15 per cent. per annum with quarterly interest payments. On July 9, 2018, the Company announced that it had applied for listing of the bonds on Nasdaq Stockholm. The first day of trading was July 11, 2018.

-After the end of the period, Vostok New Ventures has invested USD 4 mln in Busfor, a Russian bus ticketing platform, USD 2 mln in OneTwoTrip, in an internal financing round, and USD 0.35 mln in other investments.

-The number of outstanding shares (SDRs), excluding 1,125,952 repurchased SDRs, at the end of the period was 84,562,357.

The Company will hold a telephone conference with an interactive presentation at 17:00 CEST (11:00 a.m. EDT) Wednesday, August 15. For call-in details, see separate press release issued Wednesday, August 8, at www.vostoknewventures.com.


Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.

This information is information that Vostok New Ventures Ltd is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on August 15, 2018. 


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