The listing of Cibus Nordic, a Sweden-based investor in daily goods properties, on Nasdaq Stockholm's main market on June 1, marked an important milestone as Nasdaq has now welcomed 100 companies switching from the First North Growth and First North Premier markets to the Main Markets in Stockholm, Copenhagen and Helsinki.
Shareholders of Cibus did not need to take any action in connection with the change of listing venue.
Out of the 100 companies, 84 has taken the step to Nasdaq Stockholm. The 100 companies represent an accumulated market cap of over EUR 76.3 billion. Supported by the strong ecosystem that supports Nordic companies´ growth journeys, Nasdaq First North has positioned itself as a leading market for European small- and medium-sized companies.
Launched in 2005, the First North Growth Market has been a stepping-stone for companies before listing on Nasdaq's European Main Markets, where more than 650 companies are traded across Stockholm, Copenhagen, Helsinki and Iceland. At the Nasdaq Stockholm Main Market, more than 330 companies are traded today and over 170 member firms engage in daily trading, with around half of the trades made by international banks and brokerage houses.
Among the 100 companies that have taken the step to a Main Market is Sweden-based bio convergence company Cellink, which made the switch in August of last year. Cellink listed on First North in 2016, less than a year after the company was founded and its co-founder and CEO Erik Gatenholm said then that the company's "success as a publicly listed company has been thanks to the opportunity that has been available on the First North Growth Market."
All Firth North listed companies represent an accumulated market cap of EUR 61.2 billion. Total revenue for First North Growth Market companies grew 10.5% every year from 2008 to 2019. This compares to the total revenue growth for non-listed companies, which came in at 4.2%.
"Through a Nasdaq First North Growth Market listing, companies have been given access to a platform that can help them generate higher growth and facilitate easier access to capital that create jobs and allows for investments compared to many non-listed companies," said Adam Kostyál, SVP and Head of European Listings at Nasdaq. "
The Nasdaq First North Growth market has now established itself as a leading growth market in Europe and have positioned itself as a steppingstone to the Main Market, for now 100 companies, giving companies that take the step access to even more investors, index inclusion and further visibility to support their continued growth."
Cibus currently owns some 300 properties in the Nordic region.