In the morning of May 30th 2017, TerraNet Holding AB entered Nasdaq First North’s stock trading.
Based in Lund, Terranet delivers a patented software technology that enables intelligent machine-to-machine communication and streaming of data, for sending audio, image and data – regardless of any mobile network or other hot-spot dependent networks. Among other things, this technology can be used to distribute movies and music in areas that lack connectivity or to allow vehicles and machines to communicate with each other. The company’s clients include global microchip companies, mobile operators and multimedia distribution companies, as well as OEM suppliers in the automotive and manufacturing industries.
First North is Nasdaq’s European growth market, designed for small and growing companies. Using a less extensive rulebook than the main market, the First North market provides companies more room to focus on their business and development while still taking advantage of all the positive aspects of being a listed company.
Share capital value of SEK 211 million
TerraNet’s stock was traded for SEK 16.8, almost 29% above the subscription price of SEK 13. This subscription price gave the company a share capital value of SEK 211 million, which was heavily oversubscribed in May and provided the company with approximately SEK 100 million before issue costs.
The listing issue has been over SEK 300 million. Among the investors are already existing ones such Dan Olofsson (Danir AB), Qlik founder Måns Hultman and Knutsson Holdings AB. There are also external investors, such as Ålandsbanken, which invests SEK 10 million through two funds, the industrialist Sverker Martin-Lööf and the author and criminologist Leif Persson.
According to the prospectus, before the trading, Terranet’s largest owner was Danir AB with 11.1% of the share capital and 11.2 percent of the votes, then Håkan Thysell with 5.4% of the capital, followed by Måns Hultman with 4.6%.
Pär-Olof Johannesson, CEO of TerraNet, is now looking forward to the future of the company even more:
“We are very happy and proud with the great interest that has been shown in TerraNet during the IPO and listing process, both from our existing and new shareholders. We believe that the listing will have a positive impact on our customer and partner relations. We will now focus on our growth strategy with continued technology development and market expansion to deliver value to our shareholders.”