Swedish pension fund sacks CEO for property IPO subscription

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By Jasper Cox
05 Sep 2019

Swedish pension fund Första AP-fonden (AP1) has dismissed its chief executive Johan Magnusson in relation to him subscribing privately to the IPO of John Mattson Fastighetsföretagen, in which the fund was also participating.

In the spring, AP1 was an anchor investor in the IPO, thanks to a decision by Magnusson, the fund said. The CEO also subscribed privately, and after the allocation of shares and completion of the IPO, he registered the deal in the fund’s systems for reporting holdings.

A source ...

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