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Engineering company Cavotec MSL has announced that it is now ready to list on exchange group NASDAQ OMX Stockholm.
On September 23, the exchange’s Listing Committee approved Cavotec’s proposed listing on the stock exchange. This approval, conditional on the completion of certain administrative steps and final registration of the listing prospectus by the Swedish Financial Supervisory Authority, is a critical move for the company in its listing.
Three days later, the New Zealand High Court granted Cavotec permission to fully implement its proposed Scheme of Arrangement in the process of delisting itself from the country’s stock exchange.
CEO Ottonel Popesco said: “The approval received from the NASDAZ 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.”
The company’s Board of Directors have also decided not to implement a capital increase in conjunction with the Stockholm listing, saying that Cavotec has a “very strong balance sheet.”