11/26/2019 | Press release | Distributed by Public on 11/26/2019 02:19
November 26, 2019 - Nasdaq (Nasdaq: NDAQ) announces that trading in Fodelia Oyj shares (short name: FODELIA) commence today on Nasdaq First North Growth Market Finland. The company belongs to the Consumer Goods sector. Fodelia is the 51st company to be admitted to trading on Nasdaq's Nordic markets* in 2019, and it represents the fifth listing on Nasdaq Helsinki in 2019.Fodelia is a holding company that grows Finnish food companies into flourishing international success stories so that consumers can enjoy locally and responsibly produced clean food. The company's portfolio includes Feelia, a manufacturer of pre-cooked meals, and Real Snacks, a manufacturer of snacks. They are pioneers in the food industry, investing in innovative products, value-adding customer concepts and advanced manufacturing processes. The Fodelia Group's pro forma net sales for 2018 were EUR 15.3 million. The companies have some 60 employees. For more information: https://www.fodelia.fi/en/home/
'We are delighted that our IPO attracted a lot of interest and was successful. Fodelia has now over 3,600 new shareholders. It is of primary importance for us to empower Finnish food production, and the listing of our company gives us good prerequisites for implementing our growth strategy. Both Feelia and Real Snacks have demonstrated their ability to grow profitably, and strong megatrends such as changes in consumer behavior and cost pressures in professional kitchen food production support the development of our subsidiaries. Our goal is to continue strong, profitable growth and increase shareholder value by expanding and internationalizing our business with new, innovative products. Our aim is to achieve net sales of more than EUR 60 million by 2024. I would like to thank all our shareholders who participated in our offering for their trust in our company', says Mikko Tahkola, CEO of Fodelia Oyj.
'We welcome Fodelia to Nasdaq First North Growth Market Finland,' said Henrik Husman, President of Nasdaq Helsinki. 'We congratulate the company on the completion of its very successful IPO, and we look forward to a lasting partnership with the company and its shareholders.'
Fodelia Oyj has appointed Ernst & Young as its Certified Adviser.
*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm
About Nasdaq First North Growth Market
Nasdaq First North Growth Market is a registered SME growth market, as defined by the Directive on Markets in Financial Instruments (EU 2014/65). It does not have the legal status as an EU-regulated market. Companies at Nasdaq First North are subject to the rules of Nasdaq First North Growth Market and not the legal requirements for admission to trading on a regulated market, such as the Nasdaq Nordic Main Market. The risk in such an investment may be higher than on the main market.
The Premier segment within Nasdaq First North Growth Market is designed to further assist companies in raising investor visibility and to prepare them for a Main Market listing. The Premier segment targets companies that make a conscious decision to comply with higher disclosure and accounting standards than imposed under the Nasdaq First North Growth Market rules.
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