Hacksaw Gaming Debuts on Nasdaq Stockholm
Shares in iGaming supplier Hacksaw AB debuted on Nasdaq Stockholm following a heavily oversubscribed initial public offering that valued the company at approximately €2bn. The listing included up to 50 million shares and places Hacksaw in the exchange’s large-cap segment.
€2 Billion Valuation Places Hacksaw in Large-Cap Segment
Trading under the ticker ‘HACK’, Hacksaw’s shares officially launched on 25 June on Nasdaq Stockholm’s Main Market. The offering included 43.5 million existing shares priced at SEK77 (€6.96) each, with an additional 6.5 million shares available through an over-allotment option. If fully exercised, the offer will account for 50 million shares, or around 17.3% of the company’s total capital.
Gross proceeds from the IPO—estimated at SEK3.35 billion (€306 million), or SEK3.85 billion (€352 million) including the over-allotment—will go entirely to existing shareholders. The offering drew strong interest from both institutional and retail investors across the Nordic region.
Hacksaw Group CEO Christoffer Källberg called the listing “an exciting milestone” and highlighted its potential impact on the company’s visibility and expansion plans:
“Being a listed company not only enhances our visibility and credibility on the global stage, but also strengthens our company for continued growth as we deliver innovative gaming experiences to partners and players worldwide.”
The Sweden-based firm supplies digital casino games and operates its own Remote Gaming Server (RGS) platform, with distribution to operators globally. The IPO positions Hacksaw alongside other large-cap companies listed on Nasdaq Stockholm—defined as firms with market capitalisations exceeding €1 billion.
Shareholder Protections and Market Stabilisation in Place
To support trading stability, major shareholders, board members, and senior management have agreed to lock-up periods of 360 days. Smaller shareholders will be subject to a 180-day lock-up.
Stabilisation efforts will be handled by DNB Carnegie, acting on behalf of the joint bookrunners. Under EU Market Abuse Regulation, stabilisation transactions may be carried out for up to 30 days following the first day of trading.
More than 16,000 new shareholders took part in the IPO, adding to Hacksaw’s growing investor base.
Nasdaq Stockholm’s 23rd Listing of 2025
Hacksaw’s IPO marks the 23rd admission to Nasdaq’s Nordic and Baltic markets in 2025. It also reflects the increasing momentum of digital gaming firms entering the public markets in Europe.
Adam Kostyál, head of European Listings at Nasdaq and president of Nasdaq Stockholm, welcomed the addition:
“It is great to list another large-cap company on Nasdaq Stockholm. We are eager to support Hacksaw’s ongoing success and enhance their visibility on Stockholm’s Main Market.”