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The new issue of the advertising company's listing has been subscribed at around 40% and represents just over 8 million Swedish kroner. The subscription price was 7.50 kr. As part of this offer, approximately 260 drawings were received. After the issue, Adverty has approximately 300 shareholders.
In early November, Adverty announced that its first trading day on First North had been postponed due to an ongoing review process at Nasdaq.
But this morning, the message was that there would be no listing on First North without the much smaller trading platform, NGM.
When trading began today, the stock fell like a rock. A little more than half an hour after it opened, the share was traded at SEK 3.00, or 60% less than the subscription price. Then only about 20 finishes had been made.
Adverty is developing a platform for contextual and automated advertisements in virtual reality (VR), augmented reality (AR) and mobile phones.
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