The connection between Alisa Bank and the My Evli online service is exceptionally closed on Tuesday December 31, 2024 between 12.30 pm. and Thursday January 2, 2025 at 7.00 am. We apologize for any inconvenience.

Endomines - Reverse share split

Endomines EGM was held on 26 September 2022 which resolved on a reverse share split through which forty existing shares will be consolidated into one share. We update our TP to SEK 64.0 (1.6) due to the reverse split. HOLD-rating intact.
  • Following the reverse share split, the number of shares will decrease from 267,198,378 to 6,679,959
  • From today, 30 September 2022, the share price will reflect the effect of the reverse share split
  • In addition to the reverse share split, the EGM resolved to approve the planned cross-border downstream merger
  • As a result of the merger, Endomines Finland will be the new parent company of the group
  • Shareholders of the company will receive one new share in Endomines Finland for each share owned in the company
  • Final conditions of the merger are expected to be fulfilled on or about 16 December 2022 
  • We have updated our models regarding the number of shares, there are no changes to our estimates. We update our TP to SEK 64.0 (1.6) due to the reverse split. HOLD-rating intact.
  • The gold price has stayed roughly at the levels seen during our last update
  • No updates to other assumptions regarding the company’s financials 
  • Therefore, the target price change is purely driven by the change in number of shares
Open Report