Hacksaw Gaming seeks €305m in Nasdaq Stockholm IPO
The B2B gaming developer is offering 15 per cent of its total shareholding to the public.
UK.- The B2B gaming provider Hacksaw Gaming is seeking to raise up to SEK 3.35bn (€305m) in its initial public offering (IPO) in Sweden. The developer has filed for a listing on the Nasdaq Stockholm and will offer 15 per cent of its total shareholding to the public.
The offering comprises 43,478,293 existing shares priced at SEK 77 a piece, according to its prospectus. If fully subscribed at that price, the IPO could generate SEK 3.5bn and give the company a valuation of around SEK 22bn (€2bn).
Hacksaw plans to make an additional 6,521,707 existing shares available under an over-allotment option to accommodate potential demand. This would raise a further SEK 502m if exercised in full and would take the total number of shares offered to 50m, approximately 17.3 per cent of the company’s equity.
The IPO opened for subscription yesterday (June 17) and is available to retail investors in Sweden, Denmark, Finland and Norway. Subscriptions will close at the end of trading on June 24. The company plans to trade on Nasdaq Stockholm from June 25 under the ticker symbol ‘HACK’.
Founded in 2018, Hacksaw Gaming has developed slot games and instant win products on its proprietary remote gaming server. Its portfolio has launched in several markets in Europe, including Italy and Finland, and in the US state of New Jersey. In December, it obtained a licence in Pennsylvania.
The developer posted €137m in revenue for 2024, more than doubling the €67m it reported the year prior. EBIT margins held steady at 84 per cent.
Group CEO Christoffer Källberg commented: “With the publishing of the prospectus, we take another important step towards an IPO of Hacksaw.” He added that interest from potential investors has been strong, particularly in light of the company’s tech-forward business model and sustained financial performance. “We are excited to welcome new investors to Hacksaw.”
