Smart Valor begins trading on Nasdaq First North Growth Market in Stockholm

Smart Valor operates a publicly accessible digital asset exchange, custody and asset management and offers its technology as Crypto-as-a-Service to financial institutions. The company went public on 10 February at Nasdaq First North Growth Market in Stockholm. The price development of its SDRs (Swedish depositary receipts) was muted. One SDR represents one underlying share in the company. At 3 pm on 11 February, the SDR price was slightly below SEK 39, valuing the company at SEK 586 million or CHF 59 million.

In connection with its listing the company carried out an issue of SDRs as well as two private placements. Through the Offering and the directed cash issue, the Company is provided with approximately SEK 93.3 million (CHF 9.4 million) in cash proceeds before issue cost and after set-off of convertible loan.

The subscription period in Smart Valor AG’s issue of SDRs ended on February 3, 2022. The Offering was oversubscribed, which means that 378,000 SDRs are issued and the Company is thus provided with approximately SEK 19.7 million in cash proceeds before issue costs and set-off of convertible loans of approximately SEK 2 million.

Private placements

The board of directors has also resolved on two private placements of approximately SEK 110.6 million. The Private Placements consist of one approximately SEK 37.0 million directed set-off issue and one approximately SEK 73.6 million directed cash issue.

Oliver Feldmeier, CEO, comments: "We are humbled by the significant interest and investor demand we received for our oversubscribed offering. We are excited to lead the way as the first European digital asset exchange and investment platform listed on Nasdaq First North. This is a big achievement not only for Smart Valor, but also for the entire blockchain industry in terms of its maturity and evolution to better governance, transparency and compliance."

(Press release / SK)