The Listing Committee of the Stockholm Nasdaq has granted European igaming operator Mr Green & Co AB (Mr Green) the right to a public offering on its stock exchange.
Updating the market and company stakeholders, Mr Green governance declared that the operator would target a 30 November float on the Stockholm Nasdaq moving its prime listing from the Swedish mid-size AktieTorget market.
Issuing a corporate statement Per Norman CEO of Mr Green declared; “Mr Green is well positioned to continue the implementation of the new business strategy in order to achieve its targets to grow faster than the market with increased profitability and to become the leading player in sustainability and Green Gaming.”
Mr Green’s board has backed the decision stating to investors that it viewed a Stockholm Nasdaq IPO as “logical and important step in the company’s development and the continued implementation of its new business strategy”.
Confirming its potential Nasdaq placement, Mr Green governance further stated that its IPO plans would help the operator secure a broader group of investors for its ongoing international growth strategy.
In its H1 2016 trading update, Mr Green’s EBITA results have been impacted by higher costs attached to increased taxes and operational expenses despite the operator recording higher corporate revenues
Moving forward, Mr Green governance will release a prospectus for the listing on Nasdaq Stockholm (expected to be published on 29 November).