iGaming Supplier Hacksaw Launches IPO on Nasdaq Stockholm
Online gaming supplier Hacksaw AB has officially launched its initial public offering (IPO) on Nasdaq Stockholm. The move comes after the company's prior announcement of its IPO plans earlier this month.
LISTEN TO THIS ARTICLE:In the offering, Hacksaw's existing shareholders intend to raise up to €351.1 million through the sale of up to 50 million shares, with each share priced at SEK77 (€7.02). The IPO aims to achieve a company valuation of around €2 billion, with the offering representing approximately 15% of the company's total share capital.
The share sale will consist exclusively of existing shareholders divesting a portion of their holdings. As such, Hacksaw AB itself will not directly receive any proceeds from the offering.
The decision to pursue the IPO is aimed at creating a liquidity event for current investors, while also enabling the company to attract a wider pool of institutional and retail shareholders. This strategic shift is intended to bolster the company's visibility in the global market and strengthen its position in the iGaming landscape.
Hacksaw Group CEO Christoffer Källberg described the publication of the IPO prospectus as a major milestone in the company's path toward becoming a publicly listed entity. He noted strong interest from investors who recognize the company's technology-driven approach, scalable business model, and solid financial performance. Källberg expressed optimism about bringing new investors into the company, viewing the IPO as an opportunity to strengthen its financial profile and market reach.
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IPO Boosted by Financial Growth
The IPO prospectus outlines the company's recent financial trajectory. In 2024, Hacksaw reported €137.1 million in revenue, which represents a 104% increase from the previous year and a 328% rise compared to 2022.
For the first quarter of 2025, the company posted revenue of €45 million, up from €26.3 million during the same period in 2024. This growth is accompanied by strong profitability, with a post-tax profit of €109.4 million in 2024 and €30.1 million in the first three months of 2025.
Hacksaw's board of directors and executive leadership have underscored that the IPO represents a logical and essential step in the company's growth journey. They cited several anticipated benefits, including an expanded shareholder base, improved access to Swedish and international capital markets, and heightened brand recognition among customers and key industry stakeholders. Additionally, the offering gives current shareholders the opportunity to liquidate a portion of their equity, establishing a trading market for Hacksaw's stock post-listing.
Hacksaw expects to begin trading on Nasdaq Stockholm on June 25. The IPO is one of the most notable in the iGaming industry since the withdrawn offering by Games Global in May 2024.
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