A piece of HEMA for everyone

Erasmus School of Economics

A group of involved citizens, Het Enige Nederlandse Alternatief (HENA), wants to buy a piece of HEMA and is therefore raising millions of euros from private and professional investors. Mary Pieterse-Bloem, Professor of Financial Markets at Erasmus School of Economics, talks about the subject at BNR Nieuwsradio.

Mary is interested in HENA's initiative and is positive in advance, because this citizens' initiative increases the public's involvement in Dutch businesses. Through N-exchange, an alternative trading platform, HENA wants to issue participations in order to enable people to participate from as little as ten euros. It is the first time that something like this is tried, and one of the underlying thoughts behind the initiative is that HEMA will not fall prey to quick money, but that investments will be made in the long term.

Joining a larger party

HENA will not manage on its own and therefore wants to join one of the two potential buyers. So far no comments have been made on this idea. In other words, HENA would like to join, but whether they will be allowed to do so remains to be seen. Participation would mean that a small group gets a say, which is unappealing to the potential buyers. At the same time, participation would be a way to arouse sympathy.

Private equity

Mary Pieterse-Bloem considers the negative attitude of individuals towards private equity not entirely appropriate. According to her, private equity investors want to make a company healthy just as much with the money they put into it. In that sense, both parties are on the same side, whereby the course of action can differ. What is special about the situation, is that the HENA group was founded out of emotion, because they feel involved in a Dutch organisation and want to keep it in our country. While decisions are taken in a completely different way by a private equity party. Whoever joins the initiative in the end, you want to keep close, in order to maintain the sympathy.

Professor
More information

Listen to the entire BNR Nieuwsradio broadcast here, 9 September 2020 (in Dutch).

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