Embracer approved to trade on Nasdaq Stockholm

Embracer has been approved to trade on Nasdaq Stockholm, the main market for Nordic companies.

The company said its first day of trading on the market will be December 22.

Embracer was previously trading on Nasdaq First North Growth Market, and its last day there will be December 21. It has been listed since November 2016 under the name THQ Nordic AB.

"The rationale for the listing in 2016, and the related capital raise was, among other things, to finance growth, facilitate the possibility of using the company’s shares as a means of payment in acquisitions, and strengthen the company’s profile and brand among investors, customers and within the sector in general," the announcement explained.

Since then, the company has grown massively, completing over 90 acquisitions, it added.

"The listing of the company’s class B shares on Nasdaq Stockholm is an important step in [its] continued development and has been a long-standing ambition of the company’s board of directors and management," it continued.

"In addition to the fact that the listing on Nasdaq Stockholm provides a quality stamp for the company, the listing is also expected to make the company’s class B shares even more attractive as a means of payment, which may facilitate future acquisition discussions. Furthermore, the listing on Nasdaq Stockholm is expected to better reflect the maturity of the company from a capital market perspective and enable more institutional investors to invest in the Company’s class B shares."

Last month, Embracer Group released its financial results for the second quarter of the financial year 2022/2023, with sales booming across the board.

It also announced that it was shutting down the former Square Enix Montreal studio and QA team, a few months after it acquired it and rebranded it as Onoma.