Since the start of Nasdaq First North Growth Market, an ecosystem that strongly supports the growth trajectory of small and medium-sized companies in Europe, there were 100 companies with a cumulative market capitalization of over 70.1 billion euros that have matured and passed on to ours Nasdaq Nordic Main Market. This milestone further positions Nasdaq’s European markets as an important channel for businesses to reach investors and a catalyst for economic growth.
First North Growth Market, established in 2005, was a stepping stone for companies to list on Nasdaq’s major markets in Europe, with more than 650 companies in Stockholm, Copenhagen, Helsinki and Iceland. More than 330 companies are traded on the Nasdaq Stockholm Main Market alone and over 170 member companies trade on a daily basis, with around half of the business being carried out by international banks and brokerage houses.
Adam Kostyál, Nasdaq’s Head of European Listings, commented on the 100th move to our main markets: “The listing of Cibus Nordic on Nasdaq Stockholm is an important milestone for Nasdaq as we have now welcomed 100 companies to take the next step from the Nasdaq First Nordic growth market for the main Nasdaq Nordic markets. “
Nasdaq Stockholm welcomed the Swedish real estate company Cibus Nordic to First North in 2019.
“Listing on the Nasdaq First North Growth Market has given companies access to a platform to achieve higher growth in sales, employment and acquisitions, and to provide easier access to capital compared to many unlisted companies,” said Kostyál. “The Nasdaq First North Growth Market has now established itself as the leading growth market in Europe and a key value of this platform is its positioning as a stepping stone to the main market for 100 companies, which gives them access to even more investors, inclusion in the index and further visibility to support their further growth. “
According to Alla Bolag, the total employment growth of companies listed on the First North Growth Market increased 3.4%, while total sales increased 10.5% each year from 2008 to 2019 at 2.4% and total sales growth of 4.2%.
After growing at First North, companies can move into major markets to benefit from greater institutional and international investor interest, as well as the efficient and independent oversight of issuers, members and trading by the Nasdaq. All of this leads to improved credibility, brand presence and media visibility.
Siili Solutions CEO Marko Somerma said the Finland-based IT service management company was able to generate “brand visibility in the recruiting market” and “credibility in customer contacts” while being listed on First North and to the Main Market, the company recorded stronger organic growth and through acquisitions and the support of its international ambitions.
Another company that moved from First North to the main market is Sweden-based bioconvergence company CELLINK, which moved up and started trading last August. CELLINK is listed on First North less than a year after its inception, and its co-founder and CEO Erik Gatenholm said the company’s success as a publicly traded company was due to the opportunity presented in the growing First North market. ”
And when it moved to the main market, its listing “opened new doors for continued institutional ownership, increased liquidity and further global exposure,” said Gatenholm. “April 20, 2020 was our first day of trading on the Main Market and at the same time the beginning of a new chapter in our history. Many thanks to our investors and shareholders and their trust in the company, our team, our strategy and products that will shape the future of medicine. ”
On average, more than five companies grow each year and move from First North to the main Nasdaq markets. The new milestone comes at a time when the Nasdaq’s European markets are also uniting Record number of advertisements in the first quarter after welcoming 32 entries. Since 2014, a third of all IPOs in Europe have been in the Nordic markets, with Sweden being the most active.
“We are very excited about the attention we have received as a result of our listing on Nasdaq First North,” said Thomas Heltborg Juul, CEO of Green Mobility, a Denmark-based electric car sharing company. “[And] Moving to the main market was a natural next step as we did [grew] and professionalized the company. The listing on the Main Market has definitely opened up to a wider range of institutional and international investors. “
The views and opinions expressed here are those of the author and do not necessarily reflect those of Nasdaq, Inc.
