Hacksaw AB has commenced trading on Nasdaq Stockholm after a highly successful initial public offering (IPO) that exceeded all expectations by raising approximately US$404million.
This milestone event valued the company at about $2.3bn, marking a significant achievement for the Swedish B2B technology and game development firm.
Hacksaw’s IPO involved the sale of 43,478,293 shares at SEK77 ($8.10) each. An over-allotment option was exercised, adding 6,521,707 shares, and bringing the total offered to 50 million, or 17.3% of all shares. This overwhelming interest attracted over 16,000 new shareholders to the Hacksaw family.
The company’s successful listing in Nasdaq Stockholm’s large-cap segment under the ticker symbol HACK. As the shares offered were existing ones, Hacksaw will not directly receive IPO proceeds.
Christoffer Källberg, Hacksaw’s CEO, described the listing as “an exciting milestone,” adding, “Being a listed company not only enhances our visibility and credibility on the global stage but also strengthens our company for continued growth as we deliver innovative gaming experiences to partners and players worldwide.”
Adam Kostyál, Head of European Listings at Nasdaq and President of Nasdaq Stockholm, added: “We are eager to support Hacksaw’s ongoing success and enhance their visibility on Stockholm’s Main Market.”
