Enzymatica starts the process for listing on the Stockholm Stock Exchange
Enzymatica is planning to change its listing and has decided to start the process for listing the company on NASDAQ OMX Stockholm. The listing on the Stockholm Stock Exchange is central to Enzymatica’s international expansion. At the annual general meeting on 6 May, the election of two new members of the Board of Directors will be proposed, to ensure that the company complies with the independence requirements for listed companies on the Stockholm Stock Exchange.
At the Board meeting held on 10 April, the Board resolved to start the process for listing on NASDAQ OMX Stockholm’s small cap list. The Board anticipates that the listing will take place during the first half of 2014. The listing is expected to lead to increased interest among institutional investors and to create conditions for greater liquidity in the shares.
A major factor in Enzymatica’s decision to switch from the Aktietorget Equity Market to the Stockholm Stock Exchange is the company’s capital requirements for future international expansion. Enzymatica has signed a number of agreements with leading pharmacy chains in Sweden for the sale of its registered medical devices. Currently, the ColdZyme® Mouth Spray cold treatment is on sale at around half of the country’s pharmacies through Kronans Droghandel and Apotek Hjärtat. Negotiations are under way with additional pharmacy chains, both for the sale of the company’s products in Sweden and, as the next stage, in the Nordic Region. Enzymatica then intends to begin expanding internationally.
”The listing on NASDAQ OMX Stockholm will be a stamp of quality for the company. We have been working tirelessly to build a solid platform for operation as regards market launches, IP (intellectual property rights) and research. It is quite natural that we want to do the same thing for our shares, and apply for a listing on the Stockholm Stock Exchange”, says Michael Edelborg Christensen, CEO of Enzymatica.
“The listing will also increase awareness of our brand and company, and this will be vital for future expansion”.
In preparation for the listing, Enzymatica has adapted its accounting to the IFRS Standards. Work has also begun to meet the requirements of the Swedish Code of Corporate Governance: and this should be complete during the latter part of 2013. In addition, Enzymatica has implemented changes in the Board of Directors to meet the requirements for independent directors, for example, through the proposals to be submitted to the annual general meeting on 6 May for the election of Christian W Jansson as Chairman of the Board and Anders Jungbeck as a member of the Board.
Enzymatica has retained Remium as financial advisors to manage the listing process. Remium is an independent leading investment bank in the capital market for small and medium-sized companies offering a range of services including stockbroking, asset management, share analysis, corporate finance and corporate services.
”We are delighted that Enzymatica has chosen us as financial advisors for their listing on NASDAQ OMX, and we have a great deal of confidence in the company and its products, with ColdZyme at the forefront”, says Remium’s CEO, Mattias Malmström.
For more infomration on Enzymatica, please contact:
Michael Edelborg Christensen, CEO, Enzymatica AB (publ), + 46 (0)768-14 41 66,
michael.christensen@enzymatica.se