Hacksaw AB has definitely been a big talking point in recent times, with games that offer extremely high volatility coupled with costly bonus buys. This has made them popular with high-roller Kick live-streamers that spend hundreds of thousands to try and secure a ‘max win’ on Stake.
Due to increasing market share in the space, coupled with more awareness on its games, shares in the company made their debut today on Nasdaq Stockholm under the ticker symbol ‘HACK’, following an oversubscribed IPO that valued the firm at around $2.3 billion (€2 billion).
The Swedish company, known for those aforementioned games and managing its own Remote Gaming Server (RGS) platform, entered Nasdaq Stockholm’s large-cap category, reserved for enterprises valued above €1 billion.
Shares were priced at SEK77 ($8.12), with the initial offering comprising 43.5 million existing shares. An additional 6.5 million shares were available through an overallotment option. If fully exercised, the total offering could include 50 million shares, which is around 17.3% of Hacksaw’s overall share capital, generating gross proceeds of up to SEK3.85 billion ($412 million) for existing shareholders.
Hacksaw CEO Christoffer Källberg celebrated the milestone, commenting: “The listing on Nasdaq Stockholm is an exciting milestone in Hacksaw’s journey and a testament to the creativity, hard work, and commitment of our entire team.” He also suggested that public trading would enhance Hacksaw’s visibility internationally and reinforce its position in the highly competitive digital gaming sector.
Demand was notably high among both global institutional investors and retail participants from Sweden, Denmark, Finland, and Norway, resulting in over 16,000 new shareholders joining the company.
To stabilize the market during the initial trading period, major shareholders, executives, and board members committed to lock-up agreements of 360 days, while smaller investors face a 180-day lock-up.
Nasdaq Stockholm’s European Listings head Adam Kostyál welcomed Hacksaw to the exchange, emphasizing that this was the 23rd listing in Nasdaq’s Nordic and Baltic markets for 2025. He noted, “It is great to list another large-cap company on Nasdaq Stockholm. We are eager to support Hacksaw’s ongoing success.”
