The chief executive officer of Bure Equity, with a market capitalization of about USD 3.5bn, said that the steep gains raise questions "over whether the stock market has become excessively overvalued.”

Henrik Blomquist, writing as part of Bure's interim report, says the blame lies with extensive economic support measures that are causing "the prices of many assets to increase sharply".

The comments come at a time when Bure and its Swedish competitors, such as Kinnevik and Investor, have seen billions wiped off their combined market capitalizations amid analyst concern over inflated net asset value premiums.

Bure, which holds stakes in listed companies including Cavotec, Mycronic and Vitrolife, reported a net asset value of 323.80 Swedish kronor (USD 36.94) per share as of Aug. 18. Shares fell as much as 3.7 percent on Thursday, and traded at 402.20 kronor as of 9:38 a.m. in Stockholm.   

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