.jpg)
Nasdaq (Nasdaq: NDAQ) reports that the annual review of its Nordic market capitalization (market cap) segments is completed. The revision is based on the average market cap value in November 2021. Together with indexes and sector classifications, the market cap segmentation is a tool to increase visibility for companies listed on Nasdaq’s exchanges in Stockholm, Helsinki, Copenhagen and Iceland.
Effective January 3, 2022, the following 51 companies will change segment: 47 companies will change to a larger segment, while 4 companies will change to a smaller segment.
| Name | Current Segment | New Segment | Exchange |
| AddLife AB ser. B | Mid Cap | Large Cap | STOCKHOLM |
| MIPS AB | Mid Cap | Large Cap | STOCKHOLM |
| Lagercrantz Group AB ser B | Mid Cap | Large Cap | STOCKHOLM |
| HMS Networks AB | Mid Cap | Large Cap | STOCKHOLM |
| Troax Group AB | Mid Cap | Large Cap | STOCKHOLM |
| Lindab International AB | Mid Cap | Large Cap | STOCKHOLM |
| Instalco AB | Mid Cap | Large Cap | STOCKHOLM |
| BICO Group AB | Mid Cap | Large Cap | STOCKHOLM |
| NP3 Fastigheter AB | Mid Cap | Large Cap | STOCKHOLM |
| NP3 Fastigheter AB Pref | Mid Cap | Large Cap | STOCKHOLM |
| Vitec Software Group AB ser. B | Mid Cap | Large Cap | STOCKHOLM |
| Biotage AB | Mid Cap | Large Cap | STOCKHOLM |
| Hexatronic Group AB | Mid Cap | Large Cap | STOCKHOLM |
| K-Fast Holding AB ser. B | Mid Cap | Large Cap | STOCKHOLM |
| Volati AB | Mid Cap | Large Cap | STOCKHOLM |
| Volati AB PREF | Mid Cap | Large Cap | STOCKHOLM |
| Systemair AB | Mid Cap | Large Cap | STOCKHOLM |
| Creades AB ser. A | Mid Cap | Large Cap | STOCKHOLM |
| Bilia AB ser. A | Mid Cap | Large Cap | STOCKHOLM |
| Bufab AB | Mid Cap | Large Cap | STOCKHOLM |
| Karo Pharma AB | Mid Cap | Large Cap | STOCKHOLM |
| Munters Group AB | Mid Cap | Large Cap | STOCKHOLM |
| SAS AB | Mid Cap | Large Cap | STOCKHOLM |
| Boozt AB | Mid Cap | Large Cap | STOCKHOLM |
| Nobia AB | Large Cap | Mid Cap | STOCKHOLM |
| Resurs Holding AB | Large Cap | Mid Cap | STOCKHOLM |
| NOTE AB | Small Cap | Mid Cap | STOCKHOLM |
| Green Landscaping Group AB | Small Cap | Mid Cap | STOCKHOLM |
| FM Mattsson Mora Group ser. B | Small Cap | Mid Cap | STOCKHOLM |
| Logistea AB ser. A | Small Cap | Mid Cap | STOCKHOLM |
| Logistea AB ser. B | Small Cap | Mid Cap | STOCKHOLM |
| Elos Medtech AB ser. B | Small Cap | Mid Cap | STOCKHOLM |
| Xbrane Biopharma AB | Small Cap | Mid Cap | STOCKHOLM |
| BioInvent International AB | Small Cap | Mid Cap | STOCKHOLM |
| Beijer Electronics Group AB | Small Cap | Mid Cap | STOCKHOLM |
| Josemaria Resources Inc. | Small Cap | Mid Cap | STOCKHOLM |
| Infant Bacterial Therapeutics AB B | Mid Cap | Small Cap | STOCKHOLM |
| Betsson AB ser. B | Large Cap | Mid Cap | STOCKHOLM |
| Qt Group Oyj | Mid Cap | Large Cap | HELSINKI |
| Vaisala Corporation A | Mid Cap | Large Cap | HELSINKI |
| Uponor Oyj | Mid Cap | Large Cap | HELSINKI |
| Revenio Group Corporation | Mid Cap | Large Cap | HELSINKI |
| Tecnotree Corporation | Small Cap | Mid Cap | HELSINKI |
| Incap Corporation | Small Cap | Mid Cap | HELSINKI |
| Rapala VMC Corporation | Small Cap | Mid Cap | HELSINKI |
| Digia Plc | Small Cap | Mid Cap | HELSINKI |
| Bavarian Nordic | Mid Cap | Large Cap | COPENHAGEN |
| ChemoMetec | Mid Cap | Large Cap | COPENHAGEN |
| NKT A/S | Mid Cap | Large Cap | COPENHAGEN |
| NTG Nordic Transport Group A/S | Mid Cap | Large Cap | COPENHAGEN |
| SAS AB | Mid Cap | Large Cap | COPENHAGEN |
| Boozt AB | Mid Cap | Large Cap | COPENHAGEN |
| Brdr. A & O Johansen praef. | Small Cap | Mid Cap | COPENHAGEN |
| Gyldendal A | Small Cap | Mid Cap | COPENHAGEN |
| Gyldendal B | Small Cap | Mid Cap | COPENHAGEN |
| North Media A/S | Small Cap | Mid Cap | COPENHAGEN |
| Flügger group A/S B | Small Cap | Mid Cap | COPENHAGEN |
About the Market Cap Segments
Companies belong to a market cap segment (Small-, Mid- and Large Cap) based on their average market value during the given review month. Each segment is reviewed annually based on the average market cap in November with adjustments taking effect in January the following year. The market cap calculations are based on the total number of shares, i.e., both listed and non-listed shares, of a company. Companies with a market value exceeding EUR 1 billion are in the group of “Large Cap”, while companies with a market value smaller than EUR 150 million belong to “Small Cap”. Companies with a market value between EUR 150 million and EUR 1 billion belong to the “Mid Cap” segment.
12-month transitional period
Companies whose market cap has moved outside the reference values for their current classification are moved between segments according to the following rule: If their market cap is less than 50 percent of the minimum or more than 150 percent of the maximum threshold of their current segments they are transferred into a new segment with immediate effect. On the other hand, if their market cap is greater than 50 percent of the minimum or less than 150 percent of the maximum threshold of their current segment, they are subject to a transitional period and thus one more review before transferring into a new segment. Hence, based on the EUR 1 billion Large Cap and EUR 150 million Mid Cap thresholds, a Large Cap company whose market cap value has not fallen below EUR 500 million, and a Mid-cap company whose market cap value has not fallen below EUR 75 million, are subject to a second review before moving down to the new segment. Similarly, a Mid Cap company whose market cap value has not exceeded EUR 1.5 billion and a Small-cap company whose market cap value has not exceeded EUR 225 million, are subject to a second review before moving up to the new segment.
