Another significant step in the corporate development of online gambling software provider Net Entertainment has occurred with the Stockholm Stock Exchange listing committee approving the company for listing on the NASDAQ OMX Stockholm.
The listing means that the trading in B-shares is moved from the marketplace NGM Equity to NASDAQ OMX Stockholm, with the first day of trading set for January 13th 2009. The listing of Net Entertainment’s B-share on NGM Equity thereby ceases and the last day of trading on NGM Equity will be January 12th 2009.
Company shareholders do not have to take any action in connection with the listing on NASDAQ OMX Stockholm. No issue of new shares is taking place in connection with the listing on NASDAQ OMX Stockholm, and the share will be traded under the same short name as before; NET B, ISIN-code SE00 0108 9252.
“Net Entertainment has during the last five years showed a strong growth rate and rising profitability. The listing on NASDAQ OMX Stockholm constitutes a quality stamp and is implemented to further improve the brand and Net Entertainment’s position among customers, co-workers, investors and media as well as improve the possibility to use the share as payment in connection with potential acquisitions” says Johan Öhman, President and CEO of Net Entertainment.
A listing document (in Swedish only) will be available December 22nd 2008 at 9.00 am at the company website; www.netent.com/noteringsdokument and www.penser.se/netent. In the listing document the following financial goals for Net Entertainment are included which have not yet been publicised:
* The market for online based gaming in Europe is expected to grow with more than 20 percent in average during the next years. Net Entertainment’s financial goal is to grow more than the market with a sustainable operating margin exceeding 30 percent.
* We want to take this opportunity to thank Erik Penser Bankaktiebolag that has acted as financial advisor in connection with the listing process for a well executed work.