Following the high transaction activity in H218, FinLab has focused on value creation within its existing fintech companies. This includes initiating the transformation of Kapilendo into a banking partner for SMEs after the acquisition of wevest Digital in September 2019 and two follow-on funding rounds at Iconic Holding. Despite the c 25% decline in Heliad Equity Partner's share price in H119, the NAV per share remained broadly stable (€20.21 vs €20.44 at end-2018) due to the positive impact from revaluations in the period. However, we note that Heliad's share price has rebounded 28% since end-June 2019, presumably driven by stock catalysts at its largest portfolio holding, flatex.Den vollständigen Artikel lesen ...