Back in the fall, it was revealed that SAS had new major shareholders. As a result, the stock will be delisted, which is set to happen on Wednesday. Today, August 13, is therefore the last trading day.
SAS, despite its grim history, is a real favorite among small investors. Over 86,000 still had their shares on Avanza’s platform when the news of the delisting came out.
Since then, ownership has decreased by only 10,000, although it can be assumed that some have joined in to take advantage of the large swings in the share price for short-term trading. At the time of writing, the stock is down nearly 70 percent since the news of the delisting caused significant price fluctuations.
Since its listing over 20 years ago, the stock has dropped 99.9 percent. Source: Infront
Even though SAS has struggled financially for a long time, the interest from investors has been high. The effect of dilution has probably been underestimated, and perhaps a certain nostalgia for the airline has clouded investment judgment.
Since the stock is traded on the stock exchange as usual, you can sell your shares. If you own it in a regular stock account, you can consider using the loss to offset a gain, or if you want to wait until next year to sell it to use your loss to reduce potential taxes then instead.
The delisting is not a liquidation, as SAS will apply for reconstruction and not a buyout, as no one will buy the shares.
From SAS press release last fall.
Placera has asked the Swedish Tax Agency about the tax consequences for those who own SAS shares. Joakim Hansson is a legal expert at the Swedish Tax Agency.
”According to the information that the Swedish Tax Agency has today, the shares in SAS are not considered disposed of due to the events up to today. This means that the shares must be sold in order to be considered disposed of.”
From the reconstruction plan, it is clear that the intention is for the common shares to be redeemed without consideration.
”When this happens, the shares will be considered disposed of.”