STOCKHOLM, Sept. 22, 2017 /PRNewswire/ --
The Nasdaq Stockholm Listing Committee has approved the admission of the Starbreeze share to start trading on Nasdaq Stockholm. The approval is conditional upon meeting certain conditions, including approval and registration of the prospectus by the Swedish Financial Supervisory Authority ("Finansinspektionen"). The Company's assessment is that these conditions will be met as of the first day of trading on Nasdaq Stockholm, which is estimated to October 2nd 2017. The last day of trading on First North Premier is estimated to September 29th 2017.
"The up-list to Nasdaq Stockholm is an important milestone for Starbreeze and the result of a goal-oriented effort. Starbreeze has had an amazing journey since 2014 when we were listed on First North Premier. Having previously operated only as a game developer working with external game publishers, we now own our internal product development and run a succesful publishing business with externally developed games to broaden our portfolio. We've also expanded the business ventures in the Virtual Reality (VR) segment including the development of the StarVR head mounted display and by taking a stake in the location based VR market. Starbreeze is well-positioned for continued development towards becoming a leading provider of world-class experiences in the global entertainment industry," says Starbreeze CEO Bo Klint Andersson.
The Board and Management of the Company believe that listing of the Company's shares on Nasdaq Stockholm is a logical and important step in the Company's development. An up-listing has the potential to attract a wider group of investors and improve conditions for increasing awareness of the Company and its products, as well as strengthening the Starbreeze brand. A listing will also give Starbreeze better access to Swedish and international capital markets and their institutional investors, which it has been estimated will promote the Company's continued growth and development. The Board and Management also believe that a listing of the Company's shares will act as a quality stamp for Starbreeze, which can have positive impact on relationships with customers, suppliers, and partners, and ultimately increased shareholder's value.
Shareholders in the Company do not have to take any action in connection with the listing on Nasdaq Stockholm. The shares will be traded under the same tickers and ISIN codes as before: STAR A, SE 007158928 and STAR B, SE0005992831.
A prospectus for the listing will be released on or near September 29th 2017 and published on the website, starbreeze.com.
Carnegie Investment Bank AB is acting as financial adviser to Starbreeze and the law firm Lindahl is the Company's legal adviser in relation to the listing on Nasdaq Stockholm.
For more information, please contact::
Ann Charlotte Svensson
Head of Investor Relations and Corporate Communications
This information is information that Starbreeze AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 22th September CET on 7.30 am 2017.
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SOURCE Starbreeze AB