2026 Q2 - tulosraportti
14 päivää sitten
‧29 min
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 2 149 | - | - | ||
| 1 007 | - | - | ||
| 467 | - | - | ||
| 273 | - | - | ||
| 2 973 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 1.9. | ||
2026 Q1 - tulosraportti 26.5. | ||
2025 Q4 - tulosraportti 24.2. | ||
2025 Q3 - tulosraportti 18.11.2025 | ||
2025 Q2 - tulosraportti 19.8.2025 |
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
·8 t sittenI think the main focus for us who invest in the company is the story about the oil in Venezuela, here is a brief overview of what it might be worth, but the horizon is relatively long and it is indeed a high-risk project. One gets the impression that everything is a scam and there is no progress. That's why I'm sharing this from e24 and some info from other reports: Today's valuation: At a share price of SEK 7.03, the entire KEO Capital (fintech + energy) is valued at ~SEK 2.48 bn. (~USD 255-260 mn.), based on 352.7 mn. outstanding shares. The adjusted net financial position is ~USD 108.5 mn. (of which only ~48 mn. is free cash balance) – so the market prices in around USD 150 mn. in "story value" beyond pure cash balance, for both the fintech platform and the Venezuela optionality combined. Scenario calculation for the Venezuela share (40 %, not yet completed): KEO's share corresponds to ~324 mn. 2P barrels – but these are only PDVSA's own, not independently verified figures. What they have actually paid now: ~$0.3-0.4/barrel → ~$100-130 mn. Lionheart indication (collapsed SPAC deal, not binding): $400 mn. for the entire energy segment If everything succeeds and the reserves are priced like a stable, producing company (à la PetroNor, Oslo Børs, ~$7-8/barrel): ~$2.4 bn. A little positive from the E24 case about the Venezuela project: Idland says suppliers have already been on site inspection of the fields, and that they are negotiating equipment/service agreements now – i.e., something concrete on the ground, not just plans. He also confirms that investments are happening gradually: "in the early phase, the need is significantly smaller" than the full 350 mn. dollars. The agreements are also said to be registered with a French arbitration court, which provides some legal protection beyond Venezuelan courts. When can we expect more news about the oil side? Closing of the 40 % share: agreed deadline no later than November 30, 2026 (possibility of 30 days extension) Independent reserve report: expected in 2nd half 2026 (no exact date given) – probably the most important single event, since it's the first time the figures are checked by anyone other than PDVSA itself Q3 report November 24 will probably provide a status update So: enormous theoretical upside (20x+ spread between scenarios), real signs of operational progress, but still no concrete answers on the political/sanction-related risk. Pay special attention to the reserve report and the closing deadline in November.
It is the oil reserve report that will be absolutely crucial! Keo World is something that might turn out well but the q2 report itself was not good at all regarding the fintech side. Everything is financed from the old Maha cash and the margins are really crap as it looks now! The slimy Italian has managed to sell the crap for a sky-high price to Maha! All my hope of getting my invested money is the hope for Venezuela.
·10 t sittenFrom borsen.dk has no access Oil stocks have soared this year in line with the massive increase in oil prices. But after the strong rally, investors are left with a difficult question: Is there still more to gain from the high-flying stocks? Michelle Nørgaard, investor and independent equity strategist, believes so, but she also warns against entering the sector too aggressively.
·10 t sittenA reminder of this: https://open.spotify.com/episode/6bxyhANFngtOWRsZTIyd53 Is there anything that changes the case after this was recorded?
- ·14 t sitten · MuokattuThe only thing that can turn the negative trend right now is if the oil reserves report becomes really positive! The slimy Italian has misled everyone, the question is just what will be dug up a little further down the line! Has he sold the database to K-labb and at what price or has he given it to them just before the merger! Something is connected to Keo World that makes him resign, what else could it be or that his cat has died so he is grieving and can't work 😂😂😂
- ·16 t sittenSee there is a lot of back and forth in the forum about the company so therefore I have made a short summary about the company. History: KEO Capital was called Maha Energy/Maha Capital until April 2026, a small oil and gas company. In 2022, Maha merged with the Norwegian-owned DBO Energia, which contributed to the Norwegian ownership base in the company. In 2023, Maha secured an option related to the Venezuelan oil field PetroUrdaneta. In autumn 2025, Maha entered into an agreement to acquire the fintech company KEO World, founded by Paolo Fidanza – announced as an agreement worth approximately USD 680 million. The transaction was completed on 2. April 2026 through what the company itself refers to as a “reverse triangular merger”, and KEO World became a wholly-owned subsidiary of Maha, which simultaneously changed its name to KEO Capital. KEO Aggregator LP, which represents the KEO World owners (40,0 % of the company today), received 141,05 million new shares, as well as warrants for an additional up to 49,18 million shares linked to a performance-based earn-out. The accounting purchase price is stated in the Q2 2026 report as USD 166,4 mill. (a previous announcement operated with USD 220,8 mill. – the discrepancy is not explained). Total number of shares increased from 178,4 to 352,7 million – the company itself states that this corresponded to 49,30 % dilution of existing shareholders. After this, the company has attempted twice to list all/parts of the business in the USA via SPAC (BWIV, later Lionheart for the energy part) – both collapsed. KEO Energy (Venezuela): Indirect ownership interest in PetroUrdaneta. Today effectively 24 %, with a binding agreement to increase to 40 % – closing expected by 30. November 2026 at the latest. KEO Energy became operator of the field in August. The reserve figures often mentioned (8-9 billion barrels) are OIIP (“oil in place”) – oil that is in the ground, not necessarily what can be extracted. The relevant 2P figure is ~810 mill. barrels of oil equivalent for the entire field, and is currently only PDVSA's own estimates. Independent reserve report expected H2 2026. In comparison: PetroNor E&P (Oslo Børs) has net 2P of ~19-20 mill. barrels, priced at ~7-8 dollar/fat in the market. KEO has paid approximately 0,3-0,4 dollar/fat for its latest share – reflects country risk and lack of independent verification. If the project succeeds, the upside is potentially large. The development is structured gradually: reactivation of existing, shut-down wells (~280 of ~290 are inactive) instead of costly new drilling, and a credit facility of up to 350 mill. dollar paid out in stages. Ownership and dilution: KEO Aggregator owns 40,0 %, locked in until at least March 2027. Starboard (Brazilian PE fund, ~15 %) sold out completely this summer to American VEN Industries Holdings LLC. DBO Invest (Øygard, Solbrække, Idland et al.) is third largest with ~5,7 %. Warrants/options can upon full exercise yield up to 442,1 mill. shares total (~25 % more than today). Some (management options) are almost certain, the rest conditional on results or share price above SEK 16. The agreement with Novonor also suggests a future, unquantified capital raise exceeding USD 43 mill. Management and board: Hernán Magariños (1. Sep.) and Chairman of the Board Paolo Fidanza (11. Sep., founder of KEO World) have both left the board, “for personal reasons”. Both have roles in the private company K Lab (Fidanza: Executive Chairman, and founder of KEO World), Magariños: founder/CCDO). K Lab is according to its own website built on technology/data “acquired from KEO World”. No publicly disclosed agreement for payment for this has been found. When Magariños and today's acting Chairman of the Board Jay Heller (already then CEO of K Lab) were proposed to the board in July, the K Lab affiliation was openly disclosed – and both were nevertheless classified as “independent in relation to the company's management”. Sweden's Stock Market Ethics Council (Aktiemarknadsnämnden) concluded in April that a proposal from KEO Aggregator to amend the articles of association violated good practice in the stock market; the proposal was withdrawn. Upcoming dates: EGM 8. October (new board member), independent reserve report for PetroUrdaneta expected during H2/Q3 2026 (no exact date given yet), Q3 report 24. November. Provide feedback if anything is incorrectSome figures on KEO Capital's run rate, based on Q2 2026 (latest reported quarter), annualized: Net Operating Income: ~USD 1.6 mill./quarter → ~USD 6.4 mill./year Adjusted Net Loss (excl. one-off items): ~USD 4 mill./quarter → ~USD 16 mill./year G&A/opex: ~USD 4.5 mill./quarter → ~USD 18 mill./year Lending portfolio at quarter-end: USD 50.7 mill. With USD 47.7 mill. in free cash balance and an adjusted loss of ~16 mill./year, this gives a theoretical runway of around 3 years with unchanged operations – but assuming no new capital is used to grow the portfolio further or finance the Venezuela side, real consumption will likely be higher. The reported net loss was actually USD 48 mill. just in Q2, but this is mainly due to two large non-cash one-off items (share-based compensation and a debt-to-equity conversion), not ongoing operations.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
14 päivää sitten
‧29 min
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·8 t sittenI think the main focus for us who invest in the company is the story about the oil in Venezuela, here is a brief overview of what it might be worth, but the horizon is relatively long and it is indeed a high-risk project. One gets the impression that everything is a scam and there is no progress. That's why I'm sharing this from e24 and some info from other reports: Today's valuation: At a share price of SEK 7.03, the entire KEO Capital (fintech + energy) is valued at ~SEK 2.48 bn. (~USD 255-260 mn.), based on 352.7 mn. outstanding shares. The adjusted net financial position is ~USD 108.5 mn. (of which only ~48 mn. is free cash balance) – so the market prices in around USD 150 mn. in "story value" beyond pure cash balance, for both the fintech platform and the Venezuela optionality combined. Scenario calculation for the Venezuela share (40 %, not yet completed): KEO's share corresponds to ~324 mn. 2P barrels – but these are only PDVSA's own, not independently verified figures. What they have actually paid now: ~$0.3-0.4/barrel → ~$100-130 mn. Lionheart indication (collapsed SPAC deal, not binding): $400 mn. for the entire energy segment If everything succeeds and the reserves are priced like a stable, producing company (à la PetroNor, Oslo Børs, ~$7-8/barrel): ~$2.4 bn. A little positive from the E24 case about the Venezuela project: Idland says suppliers have already been on site inspection of the fields, and that they are negotiating equipment/service agreements now – i.e., something concrete on the ground, not just plans. He also confirms that investments are happening gradually: "in the early phase, the need is significantly smaller" than the full 350 mn. dollars. The agreements are also said to be registered with a French arbitration court, which provides some legal protection beyond Venezuelan courts. When can we expect more news about the oil side? Closing of the 40 % share: agreed deadline no later than November 30, 2026 (possibility of 30 days extension) Independent reserve report: expected in 2nd half 2026 (no exact date given) – probably the most important single event, since it's the first time the figures are checked by anyone other than PDVSA itself Q3 report November 24 will probably provide a status update So: enormous theoretical upside (20x+ spread between scenarios), real signs of operational progress, but still no concrete answers on the political/sanction-related risk. Pay special attention to the reserve report and the closing deadline in November.It is the oil reserve report that will be absolutely crucial! Keo World is something that might turn out well but the q2 report itself was not good at all regarding the fintech side. Everything is financed from the old Maha cash and the margins are really crap as it looks now! The slimy Italian has managed to sell the crap for a sky-high price to Maha! All my hope of getting my invested money is the hope for Venezuela.
- ·10 t sittenFrom borsen.dk has no access Oil stocks have soared this year in line with the massive increase in oil prices. But after the strong rally, investors are left with a difficult question: Is there still more to gain from the high-flying stocks? Michelle Nørgaard, investor and independent equity strategist, believes so, but she also warns against entering the sector too aggressively.
- ·10 t sittenA reminder of this: https://open.spotify.com/episode/6bxyhANFngtOWRsZTIyd53 Is there anything that changes the case after this was recorded?
- ·14 t sitten · MuokattuThe only thing that can turn the negative trend right now is if the oil reserves report becomes really positive! The slimy Italian has misled everyone, the question is just what will be dug up a little further down the line! Has he sold the database to K-labb and at what price or has he given it to them just before the merger! Something is connected to Keo World that makes him resign, what else could it be or that his cat has died so he is grieving and can't work 😂😂😂
- ·16 t sittenSee there is a lot of back and forth in the forum about the company so therefore I have made a short summary about the company. History: KEO Capital was called Maha Energy/Maha Capital until April 2026, a small oil and gas company. In 2022, Maha merged with the Norwegian-owned DBO Energia, which contributed to the Norwegian ownership base in the company. In 2023, Maha secured an option related to the Venezuelan oil field PetroUrdaneta. In autumn 2025, Maha entered into an agreement to acquire the fintech company KEO World, founded by Paolo Fidanza – announced as an agreement worth approximately USD 680 million. The transaction was completed on 2. April 2026 through what the company itself refers to as a “reverse triangular merger”, and KEO World became a wholly-owned subsidiary of Maha, which simultaneously changed its name to KEO Capital. KEO Aggregator LP, which represents the KEO World owners (40,0 % of the company today), received 141,05 million new shares, as well as warrants for an additional up to 49,18 million shares linked to a performance-based earn-out. The accounting purchase price is stated in the Q2 2026 report as USD 166,4 mill. (a previous announcement operated with USD 220,8 mill. – the discrepancy is not explained). Total number of shares increased from 178,4 to 352,7 million – the company itself states that this corresponded to 49,30 % dilution of existing shareholders. After this, the company has attempted twice to list all/parts of the business in the USA via SPAC (BWIV, later Lionheart for the energy part) – both collapsed. KEO Energy (Venezuela): Indirect ownership interest in PetroUrdaneta. Today effectively 24 %, with a binding agreement to increase to 40 % – closing expected by 30. November 2026 at the latest. KEO Energy became operator of the field in August. The reserve figures often mentioned (8-9 billion barrels) are OIIP (“oil in place”) – oil that is in the ground, not necessarily what can be extracted. The relevant 2P figure is ~810 mill. barrels of oil equivalent for the entire field, and is currently only PDVSA's own estimates. Independent reserve report expected H2 2026. In comparison: PetroNor E&P (Oslo Børs) has net 2P of ~19-20 mill. barrels, priced at ~7-8 dollar/fat in the market. KEO has paid approximately 0,3-0,4 dollar/fat for its latest share – reflects country risk and lack of independent verification. If the project succeeds, the upside is potentially large. The development is structured gradually: reactivation of existing, shut-down wells (~280 of ~290 are inactive) instead of costly new drilling, and a credit facility of up to 350 mill. dollar paid out in stages. Ownership and dilution: KEO Aggregator owns 40,0 %, locked in until at least March 2027. Starboard (Brazilian PE fund, ~15 %) sold out completely this summer to American VEN Industries Holdings LLC. DBO Invest (Øygard, Solbrække, Idland et al.) is third largest with ~5,7 %. Warrants/options can upon full exercise yield up to 442,1 mill. shares total (~25 % more than today). Some (management options) are almost certain, the rest conditional on results or share price above SEK 16. The agreement with Novonor also suggests a future, unquantified capital raise exceeding USD 43 mill. Management and board: Hernán Magariños (1. Sep.) and Chairman of the Board Paolo Fidanza (11. Sep., founder of KEO World) have both left the board, “for personal reasons”. Both have roles in the private company K Lab (Fidanza: Executive Chairman, and founder of KEO World), Magariños: founder/CCDO). K Lab is according to its own website built on technology/data “acquired from KEO World”. No publicly disclosed agreement for payment for this has been found. When Magariños and today's acting Chairman of the Board Jay Heller (already then CEO of K Lab) were proposed to the board in July, the K Lab affiliation was openly disclosed – and both were nevertheless classified as “independent in relation to the company's management”. Sweden's Stock Market Ethics Council (Aktiemarknadsnämnden) concluded in April that a proposal from KEO Aggregator to amend the articles of association violated good practice in the stock market; the proposal was withdrawn. Upcoming dates: EGM 8. October (new board member), independent reserve report for PetroUrdaneta expected during H2/Q3 2026 (no exact date given yet), Q3 report 24. November. Provide feedback if anything is incorrectSome figures on KEO Capital's run rate, based on Q2 2026 (latest reported quarter), annualized: Net Operating Income: ~USD 1.6 mill./quarter → ~USD 6.4 mill./year Adjusted Net Loss (excl. one-off items): ~USD 4 mill./quarter → ~USD 16 mill./year G&A/opex: ~USD 4.5 mill./quarter → ~USD 18 mill./year Lending portfolio at quarter-end: USD 50.7 mill. With USD 47.7 mill. in free cash balance and an adjusted loss of ~16 mill./year, this gives a theoretical runway of around 3 years with unchanged operations – but assuming no new capital is used to grow the portfolio further or finance the Venezuela side, real consumption will likely be higher. The reported net loss was actually USD 48 mill. just in Q2, but this is mainly due to two large non-cash one-off items (share-based compensation and a debt-to-equity conversion), not ongoing operations.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 2 149 | - | - | ||
| 1 007 | - | - | ||
| 467 | - | - | ||
| 273 | - | - | ||
| 2 973 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 1.9. | ||
2026 Q1 - tulosraportti 26.5. | ||
2025 Q4 - tulosraportti 24.2. | ||
2025 Q3 - tulosraportti 18.11.2025 | ||
2025 Q2 - tulosraportti 19.8.2025 |
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
14 päivää sitten
‧29 min
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 1.9. | ||
2026 Q1 - tulosraportti 26.5. | ||
2025 Q4 - tulosraportti 24.2. | ||
2025 Q3 - tulosraportti 18.11.2025 | ||
2025 Q2 - tulosraportti 19.8.2025 |
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·8 t sittenI think the main focus for us who invest in the company is the story about the oil in Venezuela, here is a brief overview of what it might be worth, but the horizon is relatively long and it is indeed a high-risk project. One gets the impression that everything is a scam and there is no progress. That's why I'm sharing this from e24 and some info from other reports: Today's valuation: At a share price of SEK 7.03, the entire KEO Capital (fintech + energy) is valued at ~SEK 2.48 bn. (~USD 255-260 mn.), based on 352.7 mn. outstanding shares. The adjusted net financial position is ~USD 108.5 mn. (of which only ~48 mn. is free cash balance) – so the market prices in around USD 150 mn. in "story value" beyond pure cash balance, for both the fintech platform and the Venezuela optionality combined. Scenario calculation for the Venezuela share (40 %, not yet completed): KEO's share corresponds to ~324 mn. 2P barrels – but these are only PDVSA's own, not independently verified figures. What they have actually paid now: ~$0.3-0.4/barrel → ~$100-130 mn. Lionheart indication (collapsed SPAC deal, not binding): $400 mn. for the entire energy segment If everything succeeds and the reserves are priced like a stable, producing company (à la PetroNor, Oslo Børs, ~$7-8/barrel): ~$2.4 bn. A little positive from the E24 case about the Venezuela project: Idland says suppliers have already been on site inspection of the fields, and that they are negotiating equipment/service agreements now – i.e., something concrete on the ground, not just plans. He also confirms that investments are happening gradually: "in the early phase, the need is significantly smaller" than the full 350 mn. dollars. The agreements are also said to be registered with a French arbitration court, which provides some legal protection beyond Venezuelan courts. When can we expect more news about the oil side? Closing of the 40 % share: agreed deadline no later than November 30, 2026 (possibility of 30 days extension) Independent reserve report: expected in 2nd half 2026 (no exact date given) – probably the most important single event, since it's the first time the figures are checked by anyone other than PDVSA itself Q3 report November 24 will probably provide a status update So: enormous theoretical upside (20x+ spread between scenarios), real signs of operational progress, but still no concrete answers on the political/sanction-related risk. Pay special attention to the reserve report and the closing deadline in November.It is the oil reserve report that will be absolutely crucial! Keo World is something that might turn out well but the q2 report itself was not good at all regarding the fintech side. Everything is financed from the old Maha cash and the margins are really crap as it looks now! The slimy Italian has managed to sell the crap for a sky-high price to Maha! All my hope of getting my invested money is the hope for Venezuela.
- ·10 t sittenFrom borsen.dk has no access Oil stocks have soared this year in line with the massive increase in oil prices. But after the strong rally, investors are left with a difficult question: Is there still more to gain from the high-flying stocks? Michelle Nørgaard, investor and independent equity strategist, believes so, but she also warns against entering the sector too aggressively.
- ·10 t sittenA reminder of this: https://open.spotify.com/episode/6bxyhANFngtOWRsZTIyd53 Is there anything that changes the case after this was recorded?
- ·14 t sitten · MuokattuThe only thing that can turn the negative trend right now is if the oil reserves report becomes really positive! The slimy Italian has misled everyone, the question is just what will be dug up a little further down the line! Has he sold the database to K-labb and at what price or has he given it to them just before the merger! Something is connected to Keo World that makes him resign, what else could it be or that his cat has died so he is grieving and can't work 😂😂😂
- ·16 t sittenSee there is a lot of back and forth in the forum about the company so therefore I have made a short summary about the company. History: KEO Capital was called Maha Energy/Maha Capital until April 2026, a small oil and gas company. In 2022, Maha merged with the Norwegian-owned DBO Energia, which contributed to the Norwegian ownership base in the company. In 2023, Maha secured an option related to the Venezuelan oil field PetroUrdaneta. In autumn 2025, Maha entered into an agreement to acquire the fintech company KEO World, founded by Paolo Fidanza – announced as an agreement worth approximately USD 680 million. The transaction was completed on 2. April 2026 through what the company itself refers to as a “reverse triangular merger”, and KEO World became a wholly-owned subsidiary of Maha, which simultaneously changed its name to KEO Capital. KEO Aggregator LP, which represents the KEO World owners (40,0 % of the company today), received 141,05 million new shares, as well as warrants for an additional up to 49,18 million shares linked to a performance-based earn-out. The accounting purchase price is stated in the Q2 2026 report as USD 166,4 mill. (a previous announcement operated with USD 220,8 mill. – the discrepancy is not explained). Total number of shares increased from 178,4 to 352,7 million – the company itself states that this corresponded to 49,30 % dilution of existing shareholders. After this, the company has attempted twice to list all/parts of the business in the USA via SPAC (BWIV, later Lionheart for the energy part) – both collapsed. KEO Energy (Venezuela): Indirect ownership interest in PetroUrdaneta. Today effectively 24 %, with a binding agreement to increase to 40 % – closing expected by 30. November 2026 at the latest. KEO Energy became operator of the field in August. The reserve figures often mentioned (8-9 billion barrels) are OIIP (“oil in place”) – oil that is in the ground, not necessarily what can be extracted. The relevant 2P figure is ~810 mill. barrels of oil equivalent for the entire field, and is currently only PDVSA's own estimates. Independent reserve report expected H2 2026. In comparison: PetroNor E&P (Oslo Børs) has net 2P of ~19-20 mill. barrels, priced at ~7-8 dollar/fat in the market. KEO has paid approximately 0,3-0,4 dollar/fat for its latest share – reflects country risk and lack of independent verification. If the project succeeds, the upside is potentially large. The development is structured gradually: reactivation of existing, shut-down wells (~280 of ~290 are inactive) instead of costly new drilling, and a credit facility of up to 350 mill. dollar paid out in stages. Ownership and dilution: KEO Aggregator owns 40,0 %, locked in until at least March 2027. Starboard (Brazilian PE fund, ~15 %) sold out completely this summer to American VEN Industries Holdings LLC. DBO Invest (Øygard, Solbrække, Idland et al.) is third largest with ~5,7 %. Warrants/options can upon full exercise yield up to 442,1 mill. shares total (~25 % more than today). Some (management options) are almost certain, the rest conditional on results or share price above SEK 16. The agreement with Novonor also suggests a future, unquantified capital raise exceeding USD 43 mill. Management and board: Hernán Magariños (1. Sep.) and Chairman of the Board Paolo Fidanza (11. Sep., founder of KEO World) have both left the board, “for personal reasons”. Both have roles in the private company K Lab (Fidanza: Executive Chairman, and founder of KEO World), Magariños: founder/CCDO). K Lab is according to its own website built on technology/data “acquired from KEO World”. No publicly disclosed agreement for payment for this has been found. When Magariños and today's acting Chairman of the Board Jay Heller (already then CEO of K Lab) were proposed to the board in July, the K Lab affiliation was openly disclosed – and both were nevertheless classified as “independent in relation to the company's management”. Sweden's Stock Market Ethics Council (Aktiemarknadsnämnden) concluded in April that a proposal from KEO Aggregator to amend the articles of association violated good practice in the stock market; the proposal was withdrawn. Upcoming dates: EGM 8. October (new board member), independent reserve report for PetroUrdaneta expected during H2/Q3 2026 (no exact date given yet), Q3 report 24. November. Provide feedback if anything is incorrectSome figures on KEO Capital's run rate, based on Q2 2026 (latest reported quarter), annualized: Net Operating Income: ~USD 1.6 mill./quarter → ~USD 6.4 mill./year Adjusted Net Loss (excl. one-off items): ~USD 4 mill./quarter → ~USD 16 mill./year G&A/opex: ~USD 4.5 mill./quarter → ~USD 18 mill./year Lending portfolio at quarter-end: USD 50.7 mill. With USD 47.7 mill. in free cash balance and an adjusted loss of ~16 mill./year, this gives a theoretical runway of around 3 years with unchanged operations – but assuming no new capital is used to grow the portfolio further or finance the Venezuela side, real consumption will likely be higher. The reported net loss was actually USD 48 mill. just in Q2, but this is mainly due to two large non-cash one-off items (share-based compensation and a debt-to-equity conversion), not ongoing operations.
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Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
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| 2 149 | - | - | ||
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| 467 | - | - | ||
| 273 | - | - | ||
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Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
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