On Friday, June 16, Nitro Games, who is a mobile games developer based in Finland, started to publicly trade on the NASDAQ First North Stockholm exchange.
In the Friday trading session, Nitro Games opened at 43 Swedish krona, or $4.93, a share. At the time, the Finnish developer’s share price was lingering at 40 krona, or $4.59, with a market capitalization of roughly $8.45 million.
Nitro Games developed their Initial Public Offering with the hopes of producing $3.5 million from selling its shares publicly. As of right now, the mobile games developer plans to use the money obtained to move into self-publishing. To aid this shift, Nitro Games is actively looking for employees who can help to make this transition a reality.
CEO and co-founder of Nitro Games, Jussi Tähtinen, stated, “we see the listing on Nasdaq First North as the next phase in the progression of the company.” Elaborating further, Tähtinen said, “we are looking to expand our business to self-publishing and feel that we are offering an interesting opportunity for investors to join our success story.”
There are a number of PR benefits of trading publicly, and according to Tähtinen, “with an IPO we’ll have more shareholders following us and also hopefully some new people watching us.”
Featured Image: twitter
