Hacksaw Gaming saw its share price close at SEK75 (£5.77) on its first day of trading on the Nasdaq Stockholmstock exchange, slightly below the supplier’s set price as part of its IPO.
The company announced at the start of June that it planned to float, aiming to raise SEK3.3bn in the process.
Investor interest saw Hacksaw’s IPO oversubscribed several times, with the firm accepting over 16,000 new shareholders.
Trading commenced from 25 June under the symbol ‘HACK’ and opened at SEK77.
Despite trading at a high of SEK86.50 following a strong spike after the market opened, the price began to fall and sat at SEK75 as the day closed, a dip of 2.6% below the initial set price.
The share price is currently sitting around SEK76, having fallen as low as SEK71 in trading this morning, 26 June.
As part of the initial IPO announcement, the Hacksaw Gaming board said the listing would support continued growth and development while also increasing the supplier’s profile among customers and other stakeholders.
It is hoped the IPO will raise more than SEK2bn for the business.
Commenting on the listing achievement before trading began, group CEO Christoffer Källberg said: “The listing on Nasdaq Stockholm is an exciting milestone in Hacksaw’s journey and a testament to the creativity, hard work and commitment of our entire team.
“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.”
Nasdaq head of European listings Adam Kostyál added: “We are pleased to welcome Hacksaw to the main market of Nasdaq Stockholm.
“It is great to list another large-cap company on Nasdaq Stockholm. We are eager to support Hacksaw’s ongoing success and enhance their visibility on Stockholm’s main market.”
The post Hacksaw Gaming closes first day of trading below set price after IPO first appeared on EGR Intel.
Supplier began trading on Nasdaq Stockholm with a price of SEK77, but saw it fall to SEK75 as trading closed despite initial 10% leap in early trading
The post Hacksaw Gaming closes first day of trading below set price after IPO first appeared on EGR Intel.