VEF

Creditas writes the following in their press release:

“Creditas announces that it is currently structuring a new equity fundraising round, targeting a minimum of USD 100 million. The round is expected to be executed at an indicative valuation of approximately USD 3.3 billion.

There can be no assurances that the fundraising will be completed on the terms currently anticipated. Any proceeds from the fundraising are intended to support the Company’s growth initiatives.”

VEF welcomes any fundraising that strengthens Creditas’ capital position, and a potential future equity fundraising is positive news for Creditas. If the fundraising was to be executed close to the numbers suggested in the Creditas press release, it would have a net positive effect on VEF’s NAV. However, as the round has not yet closed, and the full terms and structuring of the round are subject to finalizing binding agreements, the full effect on the value of VEF’s stake in Creditas is uncertain at this stage. Once the fundraising has been completed, VEF will be in a position to assess the full implication on the valuation of our investment in Creditas.