GN Store Nord AS

GN: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	DKK 855.00	Bhjdym	Xlftypfj

GN's Proposed Capital Raise Withdrawn From Annual General Meeting; Shares Undervalued

Alex Morozov

Mar 15, 2023

GN Store Nord, which previously announced its intent to increase share capital through a pre-emptive rights issue to existing shareholders for as much as DKK 7 billion in February, held its annual general meeting on March 15. The board of directors' proposal for the rights issue was withdrawn as advance votes and shareholder response voiced opposition. GN did comment that roughly half of the received votes were for the rights issue, but the proposal required a two-thirds majority to be passed, and so it was removed from the meeting agenda.

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