Embracer Group today announced that they would be moving the offering of their company from the Nasdaq First Growth North market to the Nasdaq Stockholm market. The move will commence on the 21st of December, their last day of trading on First Growth North, with the 22nd marking their first day trading on the Stockholm market. The move marks a major move to a higher profile stock trading market compared to when Embracer first went public as THQ Nordic in 2016.
Founder and CEO of Embracer Group, Lars Wingefors said of the announcement “During the past six years we have created a one-of-a-kind home and ecosystem for great people, entrepreneurs and creators. Through our expansive and diversified portfolio of crossdisciplinary IPs and our people we bring unique experiences to users across the globe. Together, the Embracer family now takes the next step on this exciting journey, as we transition from Nasdaq First North Growth Market to Nasdaq Stockholm, the Main Market. This is an important moment and further strengthens the strong foundation we have built in recent years. My gratitude is with our tremendous people and all those who support and follow us on this journey.”
New Nordic
Aside from the obvious fact that the Nordic regions are a major place for both mobile and gaming as a whole, the prestige of moving to the Stockholm exchange should not be discounted. As one of the larger stock exchanges in Europe, and as said in the announcement, it offers a greater value to stocks in Embracer Group. The move comes alone and does not include the announcement of any new shares or capital raising.
Sweden especially is one of the largest areas for gaming, contributing $5.8bn to the global economy in total. Embracer Group, especially due to their massive amount of acquisitions, made it onto our Top 50 Mobile Game Makers of 2022 list at #21.
