Simris Alg, a biotech company based in Simrishamn that makes algae-based products, aims for a listing on Nasdaq First North trading.

Established in 2014, Simris Alg has previously raised SEK 68 million in external venture capital. In connection with the IPO, the company will bring in additional SEK 50 million through issuing of shares. Currently company value is estimated at 125 million SEK.

“We want to get a big spread of ownership in the company. Our goal is to expand the facility and get additional growth capacity and to release more capital to larger sales and marketing,” – says Frederica Gullfot to Breakit.

Australia and Southe Korea are the two big markets that Simris Alg is currently looking into.

Through subscription commitments are guaranteed issue approximately 20 percent over existing shareholders including FV Group, owned by Rolf Karlsson (the man behind the national taxi organization Fågelviks Group) and the Animal Rights and Christian Ash, founder of gymkedjan Fitness 24/7.

“We already have 141 partners in the company, so the IPO has been an obvious way to go,” – says Frederica Gullfot.

First day of trading on First North will be April 22 and the price is set at SEK 18.50