Digital savings and investments platform Nordnet AB today provided an update on its plans to launch an initial public offering (IPO) of its shares and to list its shares on Nasdaq Stockholm.

Nordnet, through its subsidiary Nordnet Bank AB, will act as exclusive Nordic retail selling agent in connection with the contemplated IPO.

The IPO is expected to include an offering to the general public in Sweden, Norway, Denmark and Finland. Applications from the general public to acquire shares in the contemplated IPO can be made by persons who are customers in Nordnet and should be made via Nordnet’s website once the application period begins and should the IPO proceed. One can become a customer of Nordnet via Nordnet’s websites in Sweden, Norway, Denmark and Finland.

“It feels great to be able to offer Nordic private savers the opportunity to participate in our planned listing on Nasdaq. Being a shareholder in a company where you are also a customer can create an even greater affinity with the business, which I believe will help drive our business forward”, says Lars-Åke Norling, CEO at Nordnet.

The prospectus is expected to be published on or around 15 November 2020.

As FX News Group has reported, the Board of Directors and the executive management team of Nordnet, together with the Nordnet’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.

Nordnet’s Board of Directors and executive management team believe that a listing on Nasdaq Stockholm will benefit the company by strengthening its 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 fulfills 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 meets the distribution requirement.