Better Collective has announced its intention to carry out a listing of its shares on Nasdaq Copenhagen, in addition to Nasdaq Stockholm.
Better Collective expects the dual listing to occur during Q4 2023. The listing is subject to certain conditions, including the publication of an exemption document from Better Collective. Alongside this, Nasdaq Copenhagen must approve a listing application, and Better Collective must fulfill certain listing and market conditions.
Nasdaq Stockholm admitted the affiliate's shares for trading in 2018.
"Natural next step"
Jesper Søgaard, co-founder and CEO of Better Collective, has called the move “a natural next step for Better Collective”.
“Since the Swedish IPO in 2018, we have significantly grown the business adding value for our shareholders, while putting forward a new vision to become the leading digital sports media group,” he said.
“Combined with the fact that we experience an increased interest in our company from both current and potential institutional investors in Denmark, we believe now is the right time to dual list in Denmark.”
Jens Bager, the chairman of the board at Better Collective, says that it has delivered “significant growth both before and after the IPO in 2018”.
“The company is stronger positioned today than ever before and has embarked on an ambitious journey to become the leading digital sports media group,” he said. “The listing in Sweden five years ago has been instrumental in contributing to the development of the business as it stands today, and now it is natural to dual list in Denmark where the company has its headquarters.
Bager went on to add that the affiliate has built a “resilient business” and a “strong organisation”, both of which he says will enable the company to “further elevate its footprint within the digital sports media world”.
“Now we look forward to initiating dialogue and inviting more Danish investors to take part in that journey.”
The affiliate also recently announced the acquisition of Danish sports site Tipsbladet.dk for €6.5m (£5.59m/$6.94m). Better Collective will finance the figure with cash and pay it in three installments.