Market conditions remained largely unchanged during the second quarter, with subdued deal activity and cautious sentiment persisting across private markets. Against this backdrop, the NAV per share declined by 3.6%, driven by continued underperformance from one manager. The remainder of the fund portfolio was broadly flat, reflecting the generally stable environment in which most of NAXS's underlying portfolio companies are operating.
In line with the revised strategy announced in November 2025, NAXS deployed during the quarter approximately MSEK 19 acquiring shares in Tången Industrikapital AB, first in its IPO on Nasdaq Stockholm and subsequently in the open market. We believe Tången provides exposure to a well-positioned industrial portfolio at an attractive entry price, while the listed shares ensure that the investment remains liquid, an important consideration given our focus on maintaining balance sheet flexibility.
In the near term, we intend to continue capitalising on opportunities that may arise as market conditions evolve.
Amaury de Poret
Amaury de Poret, CEO
+46 73 511 17 35
adp@naxs.se
Gösta Lundgren, CFO
+46 70 710 47 88
gosta.lundgren@naxs.se
This information is information that NAXS AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 16:30 CEST on 17 July 2026.
Established in 2007, NAXS is an investment company listed on Nasdaq Stockholm focused on Nordic private equity. The Company aims to maximize value from its existing portfolio while selectively deploying capital to enhance shareholder returns. More information is available on www.naxs.se.