Interactive

Sweden – Cherry prepares to list its shares on Nasdaq Stockholm

By Phil - 14 December 2015

The Board of Cherry AB intends to apply for listing of its shares on Nasdaq Stockholm. The listing on Nasdaq Stockholm is expected in 2016. Cherry’s shares have been traded since 12 September 2006 on AktieTorget.

The Board believes that Cherry is well prepared to be listed on Nasdaq Stockholm. A listing on Nasdaq Stockholm would increase the possibilities for institutional investors to invest in Cherry’s shares and create conditions for improved liquidity in the share.

“A stock market listing on Nasdaq Stockholm gives an extra seal of quality for the company regarding its operations,” said Rolf Åkerlind, Chairman of Cherry.

Shareholders in Cherry will not need to take any action in connection with the listing on Nasdaq Stockholm. Cherry’s share will maintain its ticker symbol “CHER B” and also have the same ISIN-code as before, ie SE0005191426.

Group revenue increased by 71 per cent to SEK 154.1m in its third quarter. Online currently makes up 72 per cent of the group revenue. Online Gaming grew by 131 percent and EBITDA amounted to SEK 14.5m.
Restaurant Casino increased turnover by 13 percent and EBITDA increased by seven per cent to SEK 5.3m.

Fredrik Burvall, CEO, said: “Cherry’s goal is to continue to grow faster than the market through acquisitions as well as organically and focusing on rapidly increasing the profitability. We now look forward to continue to spread the joy of playing, both online and at the pub.”