Director, Hiber Capital Management

Juan Pedro Rodríguez Serrate

With over 15 years of experience spanning the financial and healthcare sectors, Mr. Rodríguez Serrate has held diverse roles across academia, industry, sell-side analysis, and buy-side investing. This multifaceted background empowers him to deliver insightful analyses and investment decisions that drive superior performance. His buy-side tenure includes positions at a number of investment funds where he has maintained consistent responsibilities as an Equity Capital Markets (ECM) generalist and healthcare specialist. Mr. Rodríguez Serrate evaluates investment opportunities through rigorous, fundamental bottom-up analysis, leveraging an extensive network, advanced modeling, and valuation expertise to generate high-impact, actionable trading ideas.

Director

Hiber Capital Management

Equity Capital Markets

<ul>
<li>I view the fixed IPO price of SEK70/share (SEK35bn) as a very attractive entry point.</li>
<li>Based on 2026e numbers the IPO price of SEK70 (SEK35bn) represents 2x P/TBV, 8.2x P/E. I see the stock trading to SEK47.2bn near term and climbing above with further upside.</li>
<li>I This represents 35% upside vs. peer benchmark fair value on a P/TBV basis. On a P/E basis there’s potential for further upside to SEK56.8bn, or 62%.  </li>
</ul>


I view the fixed IPO price of SEK70/share (SEK35bn) as a very attractive entry point.
Based on 2026e numbers the IPO price of SEK70 (SEK35bn) represents 2x P/TBV, 8.2x P/E. I see the stock trading to SEK47.2bn near term and climbing above with further upside.
I This represents 35% upside vs. peer benchmark fair value on a P/TBV basis. On a P/E basis there’s potential for further upside to SEK56.8bn, or 62%.  


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