Recent Buy: Mandatum Oyj

As expected, Mandatum Oyj traded below initially expected fair value range. Fair value range is here of course up for debate as times are tough and sector might be challenging during economic slow down. There are also clear technical reasons as all recipients of this spin-off are not willing or even allowed to hold their shares. This might go on for week or even months as at least some funds probably can sell their shares over a longer period and changes in indices will also take time. I had initially defined 3,70 EUR per share as my threshold. Initially it seemed as if I would have missed to boat here but two orders got executed: 500 shares for 3,69 EUR per share and 1000 shares for 3,65 EUR per share. It remains to be seen if some of these will be only short or mid term positions. Total exposure is a bit on the high side for this type of stock but then again there’s some real potential here. Not only because of the technical reasons but the whole sector is ripe for consolidation.

See: https://www.bloomberg.com/news/articles/2023-10-02/mandatum-set-to-debut-in-helsinki-in-biggest-listing-since-2005