Thursday 29 September 2016

Daughters become billionaires

Published 13/08/2016 | 02:30

Louise Lindh (36), left, and Katarina Martinson, (35).
Louise Lindh (36), left, and Katarina Martinson, (35).

The two daughters of Swedish industrialist Fredrik Lundberg have become billionaires as shares of the family's investment company climbed to a record high.

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Louise Lindh (36) and Katarina Martinson (35) each own a 14pc economic interest in publicly traded Lundbergfoeretagen, according to the company's 2015 annual report. Shares of the Stockholm-based business have risen 28pc in the past 12 months and matched their all-time high of 517.5 Swedish krona on Thursday.

The stock is in part benefiting from a rise in real estate values in Stockholm, where apartment prices have climbed 24pc in the past year, according to researcher Real Capital Analytics. Property made up about 40pc of the company's 59 billion krona (€6.25bn) of market-valued assets at the end of May. A scarcity of publicly available shares is amplifying the price gains.

Irish Independent

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