Stockholm, Oct 23, 2023 - Nasdaq (Nasdaq: NDAQ) announces that trading in the shares of Tebede AB (ticker name TEBEDE) will commence today on the Nasdaq Stockholm Main Market. Tebede is a small cap company within the Financials sector. Tebede was listed as a Special Acquisition Company, SPAC, on Nasdaq Stockholm in June 2021. After the business combination with Spolargruppen AB in April 2022, it was listed on Nasdaq First North Growth Market Sweden. Tebede is the 24th company to be admitted to trading on Nasdaq's Nordic markets* in 2023. Tebede's operations are mainly conducted via the subsidiary Spolargruppen, which is active within property related pipe flushing and relining. Spolargruppen's customers mainly consist of commercial property managers and housing cooperatives. Tebede has a clear growth strategy with a focus on both acquisitions and organic growth, including through greenfieldings in new locations. "We are proud to be listed on Nasdaq Stockholm Main Market and see this as an important confirmation of our work and our leading position in the industry. We view the listing on the main market as a seal of approval that creates a potential for a broader shareholder base and increased liquidity in the stock. Our ambition to offer a wide range of property-related services remains unchanged and will continue to be the foundation for our profitable growth," says Anders Lönnqvist, CEO of Tebede. "Tebede was the first SPAC to do an acquisition and a listing following the business combination on Nasdaq Stockholm in April 2022," said Adam Kostyál, Head of European Listings at Nasdaq. "We are excited to see Tebede to transfer from Nasdaq First North to the Main Market today, and we look forward to supporting them with the increased investor exposure that comes with a main market listing." *Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm as well as Nasdaq Baltic. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. Nasdaq Media Contact: Erik Gruvfors +46 73 449 78 12 erik.gruvfors@nasdaq.com
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