First Nordic equity crowdfunding campaign heading for Stockholm public listing.
FrontOffice Nordic AB, a Swedish company reconstruction firm currently in an equity crowdfunding round on FundedByMe, announced yesterday that it has applied to be listed on Nordic Growth Market (NGM). This announcement makes FrontOffice one of the first-ever Scandinavian equity crowdfunding campaigns that will give investors the opportunity to trade their crowdfunding shares on a regulated exchange, licensed by the Financial Supervisory Authority.
“With people like Tommy Ekholm and Rolf Åbjörnsson on the FrontOffice board it is very interesting that ‘old school’ businesses are turning to crowdfunding to help get them to the stock exchange,” says Pontus Frohde, COO for FundedByMe. “A few years ago crowdfunding was seen as a trendy, alternative way of getting your CD launched, or your T-shirts printed. Today equity crowdfunding is a serious financing alternative for established and profitable companies, which might not have succeeded in the crowdfunding realm back then. FundedByMe is one of the few platforms in the Nordics to offer an opportunity to invest in a profitable company – and FrontOffice is one of the few campaigns to propose the possibility to trade the shares on a public platform,” Frohde continues.
FrontOffice launched its crowdfunding campaign on FundedByMe on 25 November 2015 and it will run until 15 February 2016. The company has already secured 90% of the €533,000 equity goal from a total of 109 investors (as of 14:00 on 3 February 2016). Since the company was founded in 2013, the aim has been to list FrontOffice shares on the stock market. “Both the company and the market appears ready for a public listing and I believe that the visibility that comes with being listed on NGM will in turn enable us to help more customers.” says Johan Lund, Managing Director of FrontOffice Nordic AB (publ.).
About FrontOffice Nordic AB
FrontOffice Nordic AB - through its subsidiary Svensk Företagsrekonstruktion AB -specializes in company reconstructions and offers consulting services in areas such as economics, law and finance. The company has developed a technical platform, KROSS, that identifies companies in financial crisis at an early stage. FrontOffice Nordic AB boasts a 65 percent success rate in performed reconstructions, compared to an industry average of 18 percent. For more information contact:
Johan Lund, Managing Director, FrontOffice Nordic AB (publ)
070-55653 54 johan@svenskrekonstruktion.se
visit www.svenskrekonstruktion.se and www.frontofficenordic.se
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