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- Nasdaq’s Nordic markets remained active in 2018 despite market volatility
- Record number of switches from Nasdaq First North to the Main Market
Nasdaq (Nasdaq: NDAQ) welcomed 83 new listings to its Nordic markets* in 2018, raising 2.56 billion EUR in capital. A majority of the new listings (50 companies/60.2 percent) occured on Nasdaq First North, Nasdaq’s junior growth market for small and medium sized enterprises (SMEs).
“It is exciting to see that the Nordic markets remain resilient despite current market volatility, with a continuous inflow of new company listings throughout the year,” said Lauri Rosendahl, President of Nasdaq Nordic. “It has been particularly exciting to see Finland having its most active listing year since 2000, while the SME market in Denmark has picked up nicely with nine new listings on Nasdaq First North.”
A total number of 13 companies transferred from Nasdaq First North to the Nordic main market during 2018; a record year for switches. Since Nasdaq launched its growth market in 2006, 73 companies have matured and transferred from Nasdaq First North to the main market.
Finnish real estate company Kojamo (capital raised: 483 mEUR) was the largest IPO in 2018, followed by NetCompany (416 mEUR) in Copenhagen and Cibus Nordic Real Estate (311 mEUR) in Stockholm. A number of high profiled corporate spin-offs also occurred in 2018, including Epiroc(from Atlas Copco) and Veoneer (from Autoliv).
“Nasdaq Nordic has maintained its position as one of the most active IPO markets in Europe in 2018,” said Adam Kostyál, SVP and Head of European Listings, Nasdaq. “We continue to see an interest from issuers both in the Nordics and across Europe, in particular from fast growing technology sectors. Based on current disucssions with companies and advisors, we expect continued activity in the first part of 2019, as long as markets remain relatively stable.”
2018 Nasdaq Nordic Listings Statistics**
| Main Market | Nasdaq First North | |
| Total New Listings (incl. switches)*** | 33 | 50 |
| Initial Public Offerings | 14 | 37 |
| Switches from Nasdaq First North**** | 13 | ---- |
| Switches from non-Nasdaq markets | 1 | 7 |
| Company spin-offs | 3 | ---- |
| Listing, no offering | 2 |
6 |
| Capital Raised (Million EUR) | 1 881 | 683 |
| Largest IPOs (capital raised, million EUR) | Kojamo Oyj (483) Netcompany Group A/S (416) Cibus Nordic Real Estate AB (311) |
|
| Sectors with most listings**** | Health Care (19) Industrials (15) Financials (14) |
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2018 Nasdaq Stockholm Listings Statistics**
| Main Market | Nasdaq First North | |
| Total New Listings (incl. switches)*** | 23 | 33 |
| Initial Public Offerings | 7 | 21 |
| Switches from Nasdaq First North**** | 12 | --- |
| Switches from non-Nasdaq markets | 1 | 7 |
| Company spin-offs | 3 | ---- |
| Listing, no offering | --- | 5 |
| Capital Raised (Million EUR) | 460 | 564 |
| Largest IPOs (capital raised, million EUR) | Cibus Nordic Real Estate AB (311) Bygghemma Group First AB (138) NCAB Group AB (65) |
|
| Sectors with most listings**** | Health Care (18) Industrials (9) Consumer Services (7) |
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*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm.
**Data Source: Nasdaq Nordic, Econ & Stat Research
***Includes IPOs, listings with no offerings, company spin-offs as well as switches from Nasdaq and non-Nasdaq Markets
****Includes switches from Nasdaq First North to the Main Market
