I-Tech AB (publ) has received approval for listing of the company's shares on Nasdaq First North
Nasdaq has approved I-Tech AB (publ) ("I-Tech" or "Company") for listing on Nasdaq First North. The first day of trading in the Company's shares is Monday, May 28, 2018.
I-Tech has recently completed a share issue for listing on Nasdaq First North. The share issue raised SEK 38.5 million before issue costs. Assuming that the overallotment option of 275,000 shares is fully utilized, the Company will receive a total of SEK 44.1 million before issue costs. Following the share issue, I-Tech will have around 670 shareholders.
Nasdaq's review of I-Tech has now been completed and the Company's application for admission to trade on Nasdaq First North is approved. The shares will be traded under the ticker ITECH and ISIN code SE0011167725. The subscription price in the share issue was SEK 20.50 per share.
For further information, refer to the prospectus that has been prepared in connection with the issue and application for listing. The prospectus is available on I-Tech’s website, www.i-tech.se
Erik Penser Bank AB is the Company's Certified Adviser and has been financial advisor in connection with the listing and the rights issue. MAQS Advokatbyrå has been the Company's legal adviser in connection with the listing and the rights issue
I-Tech is a biotech company that has developed and sold the product Selektope®, an active substance that counteracts marine growth on surfaces such as ships and boat hulls, but also other marine installations. By increasing the resistance to growth in marine paint systems (eg Antifouling coatings), fuel and maintenance costs are reduced. I-Tech has obtained the necessary regulatory approvals for Selektope and has several of the world's largest manufacturers of marine color as customers. For further information, see: www.i-tech.se