Zwipe has taken its first step forward in the official application process to get listed on the Nasdaq First North Growth Market. The company has announced that it has formally submitted for screening, in what is the first part of a two-step application process.
Zwipe first announced its plans to seek a listing on Nasdaq Stockholm’s First North Growth Market in September of this year. First North is considered an “SME Growth Market” under the regulatory framework of the European Union, and Zwipe’s management are evidently seeking to raise some capital as they push toward commercialization of the company’s biometric technology for payment cards and smart cards.
In announcing its first formal step toward a First North listing, Zwipe indicated that if the application process proves successful, it could start trading on the securities market in early in the first quarter of 2020.
Commenting on the move in a statement, Zwipe CEO André Løvestam emphasized the geographical advantage that the First North market offers to Norway-based Zwipe. “Listing at Nasdaq First North Growth Market is a significant step for Zwipe, and I am looking forward to trading on a vibrant market closer to the majority of our investors,” he said.
News of the application comes just about a week after Zwipe’s announcement of a newly appointed CFO, offering the latest indication of its initiative to prepare for commercialization efforts in 2020.
December 11, 2019 – by Alex Perala