We are pleased to announce that our proposed share listing on the NASDAQ OMX Stockholm has moved a step closer following approval of the proposal by the NASDAQ OMX Stockholm Listing Committee and the green light from the High Court in New Zealand.
Last week, the Listing Committee of the NASDAQ OMX Stockholm approved Cavotec’s proposed listing on the OMX. This approval, conditional on the completion of administrative steps and final registration of the listing prospectus by the Swedish Financial Supervisory Authority, is a critical step for the company to move its listing from the NZX in New Zealand to the OMX.
Another significant milestone was reached on Monday with the New Zealand High Court granting Cavotec permission to implement its proposed Scheme of Arrangement and to continue the process of delisting from the NZX.
“The approval received from the NASDAQ OMX Stockholm Listing Committee represents a milestone for our company as it signals a clear acceptance of Cavotec into part of one of the world’s largest stock exchanges,” says Cavotec CEO, Ottonel Popesco.
“The authorisation from the New Zealand High Court to continue our proposed Scheme of Arrangement clears the way to structure the Group for sustained future growth.”
The Board remains confident ahead of its proposed listing on the OMX. The strong order book of EUR 102.1 million at the end of August is the result of a broad product offering and global presence – two key elements of Cavotec’s continued success as a supplier of innovative and sustainable system integration of power, fuel and air supply between fixed and mobile equipment.