Global Gaming targets October Stockholm listing
Swedish firm says listing on Nasdaq First North will help fund global expansion plans
Global Gaming has announced plans to list on the Nasdaq First North stock exchange in Stockholm, in an effort to raise funds for its growth strategy.
The firm, whose main B2C brand is Ninja Casino, said it was targeting 19 October as its first day of trading on the exchange.
The company is currently backed by around 150 private shareholders, who will retain a significant ownership stake.
The Malmo-based firm said it expects to raise around £2m from the list, with the cash going towards product development, new licences, geographic expansion and potential acquisitions.
“The new issue and listing on Nasdaq First North is a significant step in Global Gaming’s development to achieve the company’s long-term goals,” the firm said in its listing announcement.
“Global Gaming Management and Board believes that the Company is in an expansion phase with the opportunity to increase the growth rate for its own brands and the number of B2B partners,”
The firm saw net sales of SEK 152m (£14m) from January to June 2017, up 257% year-on-year, with operating profit of SEK 37.7m (£3.5m).
The company said it is targeting 2017 turnover of approximately SEK 500m (£46m) with an operating profit of SEK 90m (£8m).