Movinn does a soft launch in Malmö (SE).
In line with the long-term strategy, Movinn signs first unit in Malmö and is in the process of establishing a Swedish subsidiary.
Company announcement nr. 7 - 2022
February 22, 2022
This company announcement contains inside information
Copenhagen, Denmark - In line with the Company's long term strategy, Movinn A/S has signed it's first apartment in Malmö, Sweden from March 1 in order to prepare for a full scale launch in the region. Movinn will also be founding a Swedish subsidiary, thereby taking the first step towards the planned international expansion.
The current scale of the launch will not have an immediate or significant impact on the company's financial position, but it is an important milestone for the company to be relayed to the market. The trial unit will be used for marketing purposes and for prudent testing before scaling up the launch in the region.
CEO, Patrick Blok states: "We are obviously happy with this outcome as it means we are taking the initial steps towards scaling up operations in our first international subsidiary. We have had a very good cooperation with our real estate partner and we see great potential for expanding the relationship in the future. So a massive high-five to the team at the real estate company - they have been fantastic. We will keep at it and we will keep building our presence with the aim to deliver a high quality serviced living product to our clients and value to our shareholders".
Contacts
Patrick Blok
CEO, Movinn A/S
+45 28940879
Certified Advisor
Per Lönn
Västra Hamnen Corporate Finance AB
About Movinn
Founded in October 2014, Movinn A/S has grown to become one of Denmark's leading providers of fully serviced apartments, delivering space-as-a-service to mainly large domestic and international corporations and organizations. To stay at the forefront of trends in the real estate and serviced living industry - and to diversify activities - the company has created a house of brands that cover both traditional and emerging client segments.
Inhouse, the company has created a highly integrated value chain and comprehensive tech-products (several software platforms & IoT hardware) to help provide the best possible service and quality to the company's clients and to help scale profitable growth. Movinn has a strong presence in Denmark, covering Aarhus, Odense and Copenhagen (the latter being the largest and primary market), and the company is planning to expand its operations into new European destinations.
Movinn A/S has received approval for admission to trading of its shares on Nasdaq First North Growth Market Denmark under the ticker “MOVINN”.