Qliro Group initiates process to list the subsidiary Qliro on Nasdaq Stockholm
Press release, Stockholm, October 21, 2019
Qliro Group has decided to initiate the process to list its subsidiary Qliro on Nasdaq Stockholm's main market during the first half of 2020. This also means that Qliro is no longer being run to meet the financial target 2019, which is thus removed. Instead, the company continues to invest in technology and commercial capabilities in order to expand the offering and attract more merchants. This strengthens Qliro´s leading position in financial services and provides the best opportunity for value creation.
Qliro is a credit market company under the supervision of Finansinspektionen (the Swedish regulator). Since June 2018, Qliro Group's strategy is to run Qliro as an independent company.
The Board of Directors of Qliro Group believes that a stock exchange listing provides Qliro the best platform to take advantage of future opportunities for growth, value creation and access to capital markets.
As part of the preparations for a future listing, Monica Caneman has been elected to the Board of Directors of Qliro. Since before, the Board also includes Lennart Jacobsen, Marcus Lindqvist, Lennart Francke, Helena Nelson, Johan Wigh, Andreas Bernström and Robert Burén.
Carnegie Investment Bank has been appointed Global Coordinator and Bookrunner in connection with the process for a listing.
Qliro’s previous financial target was to achieve an operating profit before depreciation, amortization and impairment of SEK 100 – 125 million in 2019. In Qliro Group’s half-year report, it was communicated that earnings were expected to be slightly lower than that target.
Qliro was previously called Qliro Financial Services in Qliro Group’s communication.
This information is information that Qliro Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 7:30 p.m. on 21 October 2019.
For further information, please visit www.qlirogroup.com, or contact:
Niclas Lilja, Head of IR
About Qliro Group
Qliro Group is a Nordic e-commerce group that owns the leading Nordic online marketplace CDON.COM, the fashion brand Nelly and the fintech company Qliro offering financial services to merchants and consumers. In 2018 the Group had sales of SEK 3.2 billion. Qliro Group’s shares are listed on the Nasdaq Stockholm MidCap segment under the ticker symbol QLRO.