Hacksaw Promises to Raise $378M Through the Sale of Over 50 Million Shares

Popular iGaming supplier Hacksaw AB announced in its initial public offering (IPO) prospectus that its shareholders plan to raise up to €351.1 million (approximately $378 million) by offering up to 50 million shares, each priced at SEK77 (about $7.55).

Hacksaw AB Moves Closer to IPO with Prospectus Release

According to Hacksaw group CEO Christoffer Källberg, by publishing the prospectus, the company is taking another important step towards an IPO of the iGaming provider. He also noted that Hacksaw AB has seen a lot of positive interest from investors who value its technology-driven offering, scalable business model, and strong financial track record. The company expressed excitement about welcoming new investors.

Since the offering involves only existing shareholders, Hacksaw will not receive any proceeds from the sale. The company announced that the offering period begins on June 16, with trading on Nasdaq Stockholm expected to commence on June 25. Emphasizing its history of profitability and consistent growth, Hacksaw’s board of directors and management view the IPO as a natural and significant milestone in the company’s continued development.

This newest announcement comes after months of rumors that the iGaming supplier will go public. This was confirmed a couple of weeks ago when Hacksaw announced it’s going public on Nasdaq Stockholm. With the most current news, investors have further important information on what to expect when it comes to financial returns.

What Has Hacksaw’s Performance Been Like Recently?

According to the prospectus, Hacksaw generated €137.1 million (approximately $147.5 million) in revenue in 2024, representing a 104% increase from 2023 and a 328% rise compared to 2022. In the first quarter of 2025, the company reported revenue of €45 million (around $48.4 million), up from €26.3 million (about $28.3 million) in Q1 2024. These figures translated into a post-tax profit of €109.4 million (approximately $117.7 million) for 2024 and €30.1 million (about $32.4 million) for the first quarter of 2025.

Hacksaw also highlighted several benefits that potential shareholders will get from the offering. These include broadening the shareholder base, gaining access to both Swedish and international capital markets, supporting ongoing growth and development, and enhancing Hacksaw’s visibility among customers and other stakeholders. Additionally, the company noted that the offering will enable the selling shareholders to liquidate a portion of their existing holdings, helping to establish a public market for the company’s shares.