Apotea’s IPO Marks a Milestone for Nasdaq Stockholm
Swedish e-pharmacy Apotea celebrated its initial public offering (IPO) on December 6, becoming the largest debut on Nasdaq’s European markets for 2024 based on market capitalization.
This significant IPO highlights the resilience of Nordic markets amid global uncertainty, showcasing Nasdaq Stockholm’s growing reputation as a key platform for both local and international enterprises.
“Nasdaq Stockholm is a reliable foundation for companies to access necessary growth capital to continue innovating and expanding,” stated Adam Kostyál, President of Nasdaq Stockholm.
Apotea Celebrates their Listing as the Biggest IPO on Nasdaq’s European markets YTD in terms of Market Cap
Significance of Apotea’s Listing
“This is a very visible event, not only locally, but internationally,” Kostyál remarked. The IPO has attracted considerable interest from consumers, investors, and startups alike. In fact, many companies have postponed their own listings this year due to challenging economic conditions.
Kostyál noted, “Apotea going public this year is special, as they feel confident navigating these turbulent markets, unlike numerous companies that have chosen to wait.” A key factor behind this visibility is Apotea CEO Pär Svärdson, who has actively engaged the media and set ambitious goals for the company’s growth and sustainability.
According to Kostyál, Svärdson serves as a role model for other CEOs contemplating entry into the public markets.
Apotea CEO Pär Svärdson at Nasdaq’s Bell Ceremony
Many European capital market (ECM) companies are scrutinizing this IPO. “They’re closely observing who is investing and what key parameters are at play,” Kostyál explained. “These details serve as benchmarks for them.”
As Sweden’s leading online pharmacy, Apotea is recognized for providing a fast and user-friendly retail experience. This IPO has brought in over 90,000 new shareholders, significantly expanding its investor base.
Strength of the Stockholm Market
Stockholm has built a solid reputation as an appealing destination for companies considering public listings. Earlier this year, the Financial Times highlighted Sweden’s achievements as a prominent market operator within Europe.
“Sweden is one of the world’s leading retail markets and offers Apotea the right support to engage both institutional and retail investors,” Kostyál noted. “The decision to list here is significant because it provides local backing and international relevance.”
In the last decade, over 600 companies have been listed in Stockholm, which has also led Europe in small and medium enterprise (SME) listings for the past three years.
“Despite the unpredictable market, Apotea has successfully engaged with both local and international investors to build a compelling narrative,” remarked Kostyál. “This illustrates the depth and strength of our local market in supporting such endeavors.”
The connection between the Stockholm exchange and the broader Nasdaq brand provides companies with access to an extensive network and valuable expertise, fostering confidence in potential IPOs.
Nasdaq also offers a range of services and support to companies that list on its platform, encouraging those hesitant to leave private markets to consider going public.
Changing Landscape in Europe
Apotea’s listing is timely as European markets undergo transformation. Historically, technology companies have hesitated to list in Europe, often finding it a complicated environment for growth.
However, recent initiatives aimed at creating a unified capital markets union (CMU) are reshaping the landscape. The markets in which Nasdaq and similar entities operate are diverse in size and development stages, heavily influenced by local factors. This has allowed the Swedish market to rise as a success story.
“Currently, there’s a strong focus on enhancing European capital markets, with Sweden exemplifying this trend,” Kostyál said. “We lead the way in assisting companies making the leap to public status, and the world is taking note.”
Apotea’s successful IPO, along with its commitment to remain in Europe, illustrates the maturation of the market.
Learn more about Nasdaq European Markets.
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Information is provided for educational purposes only. Nasdaq does not recommend or endorse any securities offering; you are urged to read the registration statement, undertake your own due diligence, and carefully evaluate any company before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
