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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Kahoot! AS    KAHOOT-ME   NO0010823131

KAHOOT! AS

(KAHOOT-ME)
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SoftBank takes 9.7% stake in Norway's Kahoot, boosting share price

10/13/2020 | 04:09am EST
SoftBank Corp. placard is prepared during a ceremony to mark the company's debut on the Tokyo Stock Exchange in Tokyo

OSLO (Reuters) - Japan's SoftBank Group has taken a 9.7% stake in educational gaming company Kahoot by investing 1.98 billion Norwegian crowns ($216 million) in new equity, the Norwegian company said on Tuesday.

Kahoot's online platform of games-based learning and entertainment was growing fast before the coronavirus pandemic and has seen rapid expansion this year as schools and firms adopted online education tools.

Kahoot's share price jumped 17.8% in early trade, hitting a record 58.5 crowns on the news. The shares have risen 179% so far this year.

The new cash will help the company fund its expansion plans, which could include mergers or acquisitions, details of the transaction showed.

"SoftBank will strengthen (Kahoot's) shareholder base as an investor with deep expertise and experience owning and developing software companies," the Oslo-listed firm said in a statement.

The new shares were sold to a unit of Softbank at 46 crowns each, a 7.3% discount to Monday's closing price of 49.65 crowns.

Brokers ABG Sundal Collier, Arctic Securities and Goldman Sachs International advised Kahoot on the deal.

($1 = 9.1639 Norwegian crowns)

(Reporting by Terje Solsvik; Editing by Susan Fenton and Louise Heavens)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ABG SUNDAL COLLIER HOLDING ASA 0.89% 5.7 Delayed Quote.41.60%
KAHOOT! AS 3.17% 65 End-of-day quote.195.45%
SOFTBANK GROUP CORP. 3.19% 7089 End-of-day quote.49.05%
THE GOLDMAN SACHS GROUP, INC. -0.48% 235.4 Delayed Quote.2.87%
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Financials (USD)
Sales 2019 115 M 13,0 M 13,0 M
Net income 2019 -71,0 M -8,03 M -8,03 M
Net cash 2019 345 M 39,0 M 39,0 M
P/E ratio 2019 -120x
Yield 2019 -
Capitalization 30 177 M 3 418 M 3 411 M
EV / Sales 2018 73,5x
EV / Sales 2019 71,4x
Nbr of Employees 110
Free-Float 60,7%
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Income Statement Evolution
Managers
NameTitle
Eilert Giertsen Hanoa Chief Executive Officer
Harald Arnet Chairman
Lars Erik Eikum Grønntun Chief Operating & Marketing Officer
Ken Werner Østreng Chief Financial Officer
Morten Versvik Chief Technology Officer
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