Cherry prepares for Nasdaq Stockholm listing
Operator says new listing will open shares to wider base of institutional investors
Cherry will list on the Nasdaq Stockholm exchange as the operator looks to increase liquidity and increase the possibilities for institutional investors to invest in its shares.
Cherry has been listed on Sweden’s AktieTorget exchange since 2006 but said it was “well prepared” for the Nasdaq Stockholm listing, which is expected to complete next year.
“A stock market listing on Nasdaq Stockholm gives an extra seal of quality for the company regarding its operations,” Cherry’s chairman Rolf à kerlind said.
Cherry’s share price was up 8.51% to SEK 102.00 (£7.89) on the news after early morning trading.
Last month Cherry CEO Fredrik Burvall said the operator would look at adding more brands to its growing portfolio after revenues in Q3 were heavily boosted by recent acquisitions.
As well as acquiring Germany-facing casino operator Almor Holding, the firm has already launched two new brands, SveaCasino and SuomiCasino, this year.