Online gambling company Mr Green & Co AB has been granted the right to a public offering on its stock exchange by the Listing Committee of the Nasdaq Stockholm.
Mr Green governance declared while updating the market and company stakeholders that the operator would target a 30 November float on the Nasdaq Stockholm, moving its prime listing from the Swedish Aktie Torget market.
Mr Green CEO Per Norman issued a corporate statement, declaring: “Mr Green is well positioned to continue the implementation of the new business strategy in order to achieve its targets to grow faster than the market with increased profitability and to become the leading player in sustainability and Green Gaming.”
Backing the decision, Mr Green’s board stated to investors that it viewed a Nasdaq Stockholm IPO as a “logical and important step in the company’s development and the continued implementation of its new business strategy.”
While confirming its potential Nasdaq placement, Mr Green governance further states that its IPO plans would help the operator to secure a bigger group of investors for its ongoing international growth strategy.
Mr Green’s EBIDTA results in its 2016 trading have been impacted by higher costs attached to increased taxes and operational expenses, despite the operator recording higher corporate revenues.
Moving forward, Mr Green governance will release a prospectus for the listing on Nasdaq Stockholm which is expected to be published on 29th November.