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Two Swedish investors bought large stakes at the listing of paper company four days ahead of weak Q3 report

AMF Pension and Swedbank Robur each bought almost 10 percent of Nordic Paper when it was listed, while the company's top management waited to buy. Four days later, the shares tumbled as the Swedish paper manufacturer published a weak Q3 report, Realtid.se reports.

Nordic Paper’s history traces back to the late 1800s, with the establishment of the Bäckhammar mill (pictured) in 1871. Photo: PR/Nordic Paper

AMF Pension and Swedbank Robur each bought close to 10 percent of the shares when the more than one hundred years old firm Nordic Paper was listed at the Stockholm Stock Exchange in October. On October 28, just four trading days later, the specialized Swedish paper manufacturer presented a Q3 report which was worse than expected from many investors, reports the Swedish news site Realtid.se.

In Q3, net sales decreased by 19 percent to SEK 639m. Operating profit went from SEK 129m to minus SEK 40m, slashing the operating margin to minus 6.3 percent, down from 16.3 percent.

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