Nordnet plans listing on Nasdaq Stockholm
Digital savings and investments platform Nordnet AB today unveiled its plans to launch an initial public offering of its shares and to list its shares on Nasdaq Stockholm. The Offering is expected to consist entirely of existing shares in the Company offered by the Selling Shareholders.
Lars-Åke Norling, CEO of Nordnet, comments:
“Over the past few months we have been through a strategic review, during which we have met with a lot of stakeholders. There has been strong interest in our pan-Nordic digital platform for savings and investments, and the general view is that Nordnet is an attractively positioned company embarking on an exciting journey”.
“A listing will further build our profile and brand awareness while offering shareholders, including our employees and customers, the opportunity to be part of our continued growth journey”.
The board of directors and the executive management team of Nordnet, together with the Company’s principal shareholders, the Öhman Group and Nordic Capital, believe that the time is now appropriate for a re-listing of Nordnet. The Öhman Group will remain a substantial shareholder following the listing and is committed to participate in the future development and growth of Nordnet.
Nordic Capital will also retain board representation and ownership in Nordnet following the IPO and the listing and intends to continue to support the company’s development going forward.
Furthermore, Nordnet’s board of directors and executive management team are of the opinion that a listing on Nasdaq Stockholm will benefit the Company by strengthening the Company’s profile through increased brand awareness at a time of accelerated growth and development. It is also Nordnet’s belief that the opportunity to own shares in Nordnet may lead to increased engagement from employees as well as customers.
Nasdaq Stockholm’s listing committee has made the assessment that the Company fulfils the applicable listing requirements. Nasdaq Stockholm will approve an application for admission to trading of the Company’s shares on Nasdaq Stockholm, provided that certain conditions are fulfilled, including that the Company submits such application and fulfils the distribution requirement.
Depending on market conditions, the Offering and listing on Nasdaq Stockholm is expected to be completed in 2020.