GiG to list shares on Nasdaq Stockholm
Gaming Innovation Group (GiG) has confirmed it will list its shares on Nasdaq Stockholm later this month, with the first day of trading planned for March 26.
Currently listed on Oslo Børs, GiG’s shares will be dual-listed and traded on both exchanges until further notice. The Nasdaq Stockholm ticker will be’ GIGSEK’, while the Oslo Børs ticker will remain as ‘GIG’.
Nasdaq Stockholm has assessed GIG and said that the igaming solutions provider fulfils all listing requirements, but the new listing remains subject to customary conditions and formal approval. No new shares will be issued in connection with the listing.
“Stockholm is the hub and centre of excellence for the igaming industry, and this will put the company closer to its peer group with increased visibility in the market,” GiG CEO Robin Reed said.
“We have many shareholders in Sweden and look forward to welcoming existing and new shareholders to join us on Nasdaq Stockholm.”
Existing shareholders that want to trade GiG shares on Nasdaq Stockholm are advised to contact their bank, broker or custody account holder for information about the transfer.
GiG has also said that existing shareholders who would like to keep their shares with the Norwegian VPS and trade on Oslo Børs do not need to take any action at this stage. New shareholders can trade the GiG share on both exchanges.
Shares in GiG maintained in the Norwegian central securities depositary and traded on Oslo Børs must be transferred to Euroclear Sweden, the Swedish central securities depositary, to be available for trading on Nasdaq Stockholm.
The listing comes after GiG secured a licence to operate in the country’s newly regulated online gaming market.
Last month, GiG also reported a 26% year-on-year increase in revenue for 2018, due in part to high levels of investment in technology and product development over the year.
Operating revenue for the 12 months ended December 31, 2018 amounted to €151.4m (£129.9m/$171.0m), up from €120.4m in 2017.