- Nasdaq Stockholm most successful listings venue, Nasdaq First North remains the leading SME exchange in Europe in 2022
Nasdaq (Nasdaq: NDAQ) today presented its yearly statistics for Nasdaq´s European markets. Despite a highly turbulent macro environment fueled by several unforseen external events in 2022, the Nordic and Baltic regions maintained the leadership position in several key areas, including SME listings. With 41 listings, Nasdaq Stockholm also remained the most successful listings venue in Europe in 2022.
Maintaining Nasdaq´s Position as a Leading European Listings Hub
Despite lower numbers in both capital raised and number of listings relative to the extraordinary 2021, Nasdaq remains a leading European exchange group in terms of number of new listings on its markets. In total, the Nasdaq equity markets in Sweden, Denmark, Finland, Iceland and the Baltic countries welcomed 74 new listings, including 38 initial public offerings (IPOs), raising a total of EUR 762 million in risk capital. With 48 new companies welcomed in 2022, Nasdaq First North (Nasdaq´s growth market in Europe) remains the premier SME market in Europe.
“Despite an extraordinary and in many ways challenging 2022, with war in Europe, turbulent energy markets and rising inflation, Nasdaq has been able to maintain its position as a leading listings venue in Europe Nasdaq´s European markets remain an attractive source of capital, and we continue to be the public market-of-choice for companies and investors alike across Northern Europe,” said Adam Kostyál, Head of European Listings at Nasdaq.
The biggest IPOs in terms of raised capital was Engcon AB (EUR 170 million), and the biggest listing per market cap was the dual-listing of Finnish Sampo Group on Nasdaq Stockholm (EUR 25.7 billion). Another key milestone was the switch of Embracer (market cap: EUR 5.7 billion) from First North to the Main Market.
“Throughout an extremely turbulent market environment, our team has worked tirelessly to keep driving our technology leadership, marketplace excellence and strong commitment to sustainability in order to create a world class capital market offering for both companies and investors in times of uncertainty said Bjørn Sibbern, President, European Markets at Nasdaq. “In 2023 we will continue to work together with our clients in order to build and further evolve some of the best performing markets in the world.”
ESG expansion and robust growth for Puro.earth
In 2022, Nasdaq continued to invest in strengthening its environmental, social and governance (ESG) capabilities. Nasdaq majority-owned carbon removal platform Puro.earth´s trading volumes for CO2 removal certificates (CORCs) increased by 250 % and the trading value by 350 % compared to the year before.
In March 2022, Nasdaq launched the world’s first commodity reference price indexes which track the price of removing carbon dioxide from the atmosphere and follow the price of Carbon Removal Certificates (CORCs) issued by Puro.earth. To further underscore the potential of carbon removal as a way of reaching net-zero, Nasdaq and Puro.earth were both represented at the United Nations Climate Change Conference (COP27) in Sharm El Sheikh, Egypt, in November.
Additionally, new listings on the Nordic Sustainable Debt Markets grew by 11 % compared to 2021. The total volume of bonds listed on the Nordic & Baltic Sustainable Debt Markets grew by 23 % to EUR 48.2 billion by the end of 2022.
Maintaining market share and Nordic trading leadership despite lower trading volumes
Following the general market trend, Nasdaq saw trading volumes in most of its European markets facing challenges in 2022, and equity trading decreased 10.8 % to a daily average volume of EUR 3.6 billion across all markets. Nasdaq maintained a market share of 72 % during the year of lit and auction trading in its listed shares and continued to reinforce its leadership in the Nordic derivatives market. This includes Norway, where Nasdaq has managed to achieve a 55 % market share in single stock options. Throughout 2022, Nasdaq launched a number of products and services to further support the trading community, including options on the OMXS30 ESG index.
For more details and milestones on Nasdaq´s European market operations in 2022, please see below.
SELECTED 2022 EUROPEAN HIGHLIGHTS
LISTINGS
- Nasdaq welcomed 74 equity new listings (among them 38 initial public offerings), raising a total of EUR 762.3 million . Furthermore, 12 companies switched from Nasdaq First North to Nasdaq Main Market. The achievement keeps Nasdaq Stockholm in the position as the leading European listing venue, with the highest number of listings in Europe in 2022 A total of 1,251 companies are currently listed at Nasdaq in Europe.
- Market by market, Nasdaq Stockholm had 41 listings, Nasdaq Helsinki 9 listings, Nasdaq Copenhagen 2 listings, Nasdaq Iceland 4 listings, Nasdaq Tallinn 5 listings and Nasdaq Riga 1 listing.
- Nasdaq´s European Markets saw its first first de-SPAC when Virala Acquisition Company acquired Purmo Group (Nasdaq Helsinki: PURMO) in January 2022.
TRADING
- Nasdaq saw trading volumes in most of its European markets decrease in 2022, with share trading decreasing 10.8 % to a daily average of EUR 3.6 billion (2021: 4.0) Euros across all markets.
- Nasdaq maintained a market share of 72 % (78 %) of lit and auction trading in its listed shares, while continuing to reinforce its leadership in the Nordic derivatives market, including Norway, where Nasdaq has a achieved a 55 % market share in single stock options.
- Throughout 2022, Nasdaq launched a number of products and services to further support the trading community, including options on the OMXS30 ESG index.
RETAIL ENGAGEMENT
- In 2022, Nasdaq launched its European Retail Engagement Program that supports its purpose of championing inclusive growth and prosperity. The program seeks to equip retail investors of all backgrounds and ages with sufficient knowledge and skills to manage their money effectively and supports a select group of third-party partnerships organizations that educate private investors on savings, trading and investments.
- In May, the digital education program Nasdaq Derivatives Academy was launched in the Nordics to increase knowledge of equity derivatives and has since then educated almost 2000 investors.
PRODUCTS & PARTNERSHIPS
- In October, Nasdaq launched its Custom Basket Calculation Service (CBCS) in collaboration with S&P Global Market Intelligence. The solution meets the demand for a simpler and more efficient way of managing proprietary indexes, thematic baskets, and ESG investments. In the near future, Nasdaq aims to be able to introduce a Custom Basket Forward (CBF) solution that enables investors to create a forward contract on customized baskets as an alternative to OTC equity swaps.
- Nasdaq Primary was launched in September. The solution helps companies digitalize the process of raising debt capital by bringing all market actors together on one platform. The product is launched in partnership with Onbrane, a European fintech company focused on producing sustainable and innovative solutions for the debt market leveraging web-based technology.
SUSTAINABILITY
- In June, Nasdaq launched its ESG Responsible Indexes for its Danish (Nasdaq Copenhagen: OMXC25ESGTM) and Finnish markets (Nasdaq Helsinki: OMXH25ESGTM). The indexes are based on the benchmark indexes OMX Copenhagen 25TM (OMXC25TM) and OMX Helsinki 25TM (OMXH25TM) and consist of the 25 most traded securities listed on Nasdaq Copenhagen and Helsinki, respectively.
- Nasdaq majority-owned carbon removal platform Puro.earth´s trading volumes for CO2 removal certificates (CORCs) increased by 250 % and the trading value by 350 % compared to the year before.
- New listings on the Nordic Sustainable Debt Markets grew by 11 % compared to 2021. The total volume of bonds listed on the Nordic & Baltic Sustainable Debt Markets grew by 21 % to 47,5 billion EUR by the end of 2022.
