Hacksaw Completes Incredibly Successful IPO

Hacksaw AB, which had sought to raise $378 million via its initial public offering (IPO), has officially begun trading on Nasdaq Stockholm. The company’s IPO was a spectacular success and saw it raise approximately $404 million, surpassing the earlier projections.

The IPO Valuated Hacksaw at over $2B

Hacksaw’s IPO proved to be a success as investors valuated the company at roughly $2.3 billion. During the IPO, Hacksaw offered shares for the price of SEK 77 ($8.1) apiece. The offering comprised 43,478,293 shares, equivalent to 15% of the total number of shares.

Since it was oversubscribed several times, an over-allotment option was provided, requesting the sale of an additional 6,521,707 shares. This will bring the grand total of shares offered via the IPO to exactly 50 million, representing 17.3% of all shares.

The IPO saw over 16,000 people join the Hacksaw family as shareholders. Since the IPO consisted entirely of existing shares, Hacksaw will not receive any direct proceeds.

The Swedish B2B technology platform and game development company has thus been submitted directly into Nasdaq Stockholm’s large-cap segment. Investors can now trade the company’s stock, which is available under the ticker symbol HACK.

Nasdaq Welcomed Hacksaw on Board

Christoffer Källberg, Hacksaw’s chief executive officer, called the listing on Nasdaq Stockholm “an exciting milestone” for the company. He said that this development proves the Hacksaw team’s incredible commitment, creativity and hard work.

Being a listed company not only enhances our visibility and credibility on the global stage, but also strengthens our company for continued growth as we deliver innovative gaming experiences to partners and players worldwide.

Christoffer Källberg, CEO, Hacksaw

In the meantime, Adam Kostyál, head of European listings at Nasdaq and president of Nasdaq Stockholm was likewise pleased with Hacksaw’s successful IPO, saying that it is great to add another large-cap company to the market.

We are eager to support Hacksaw’s ongoing success and enhance their visibility on Stockholm’s Main Market.

Adam Kostyál, head of European listings at Nasdaq and president of Nasdaq Stockholm

In the meantime, larger shareholders, board members and management will have lock-up periods of 360 days to secure the company’s stability. At the same time, smaller shareholders will be restricted for only 180 days.