Hacksaw Now Trading on Nasdaq Stockholm
On June 25, Hacksaw AB began listing its shares on Nasdaq Stockholm under the ticker 'HACK.' The Swedish-based iGaming developer launched its public trading debut following a significantly oversubscribed initial public offering (IPO), which placed the company's valuation at approximately €2 billion.
LISTEN TO THIS ARTICLE:This listing qualifies Hacksaw for Nasdaq Stockholm's large-cap category, reserved for companies valued above €1 billion. The move underlines the company's growing global influence and commitment to advancing online gaming technologies.
Hacksaw produces digital gaming content and manages a proprietary Remote Gaming Server (RGS) that delivers its products to operators around the world. Its solutions have established it as a prominent contributor to the online gambling tech space.
The IPO, announced earlier in the month, drew substantial attention from institutional investors on an international scale, as well as from private investors in countries including Sweden, Finland, Denmark, and Norway.
Shares were set at SEK77 (€6.96) each. The base offering included 43.5 million existing shares, with an option to release another 6.5 million shares through an over-allotment arrangement.
If the additional shares are issued, the total number of shares sold would rise to 50 million, representing nearly 17.3% of the company's total equity. The transaction is expected to generate gross proceeds of SEK3.35 billion (€306 million), or up to SEK3.85 billion (€352 million) if the full allotment is exercised, with proceeds allocated to existing shareholders.
The public offering marks a critical point in the company's development, underscoring the efforts of its team and paving the way for its future expansion plans in the digital gaming industry.
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Public Launch to Bring Growth
Becoming a publicly traded entity is anticipated to elevate Hacksaw's profile and trust among international partners. It also sets the stage for ongoing development and underscores its drive to deliver leading-edge content to players and platforms globally.
More than 16,000 new stakeholders became shareholders through the IPO. To help maintain price stability during the early trading phase, key company participants—including senior executives, board members, and significant investors—have agreed to holding periods.
Larger shareholders are restricted from selling their shares for 360 days, while smaller investors must observe a 180-day lock-up. These measures are intended to reduce volatility and encourage stable trading patterns in the initial months.
The firm DNB Carnegie was appointed to act as stabilization manager on behalf of the offering's joint coordinators. In line with the EU Market Abuse Regulation, the manager may conduct market stabilization activities for up to 30 days following the launch. These actions are designed to support the share price during the post-IPO phase and can be discontinued at any time.
Hacksaw's stock market entry marks the 23rd company to list on Nasdaq's Nordic and Baltic exchanges in 2025. The listing is part of a growing trend of technology-driven gaming companies using public offerings to gain capital and expand their visibility across key markets.
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