Nasdaq Helsinki welcomes Administer to Nasdaq First North Growth Market Finland
Dec 17, 2021 – Nasdaq (Nasdaq: NDAQ) announces that trading in Administer Plc shares (short name: ADMIN) commence today on Nasdaq First North Growth Market Finland. The company belongs to Industrials sector. Administer is the 207th company to be admitted to trading on Nasdaq’s Nordic markets* in 2021, and it represents the 31st listing on Nasdaq Helsinki in 2021.
Administer Group, founded in 1985, is a Finnish company that offers financial and payroll management services as well as consulting and software services. Our customers include organisations of all sizes, from small and mid-sized companies to large enterprises and municipalities. Our goal is to reform the financial management service market by developing new technologies and solutions. Measured in revenue, we are one of the largest providers of financial management services and HR and payroll services in Finland. In 2020, our revenue was EUR 44 million and we employed approximately 600 financial management professionals.
Peter Aho, CEO of Administer, comments: “I want to thank all investors who participated in Administer’s Initial Public Offering as well as our personnel for the trust they have shown us. For me, this is a very emotional moment that I have first dreamt of already at the turn of the millennium. It is now coming true, and we can take the next step on Administer’s growth path. I warmly welcome our new shareholders to join us on this journey.”
Chairman of the Board Jukka-Pekka Joensuu, comments: “I, for my part, also want to thank the investors who participated in the Initial Public Offering for their interest towards our company. Measured by net sales, Administer is currently one of the largest providers of financial management services in Finland. Our goal is to reform the entire industry by developing new technology and new solutions. In addition to organic growth, acquisitions are an integral part of our growth strategy. The funds raised now support the execution of our growth-oriented strategy. I want to thank the company’s advisors and other partners for professional and high-quality cooperation throughout the project. Finally, I want to thank Bocap for their active involvement in developing the company.”
“We are pleased to end a busy IPO year by welcoming Administer to the Nasdaq First North growth market. Administer has grown respectably with its fairly long history, which makes it a great addition to First North,” says Henrik Husman, President of Nasdaq Helsinki. “We look forward to follow their journey as a listed company.”
Administer has appointed Evli Pankki Plc as its Certified Adviser.
*Main markets and Nasdaq First North Growth Market at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm
About Nasdaq First North Growth Market
Nasdaq First North Growth Market is a registered SME growth market, as defined by the Directive on Markets in Financial Instruments (EU 2014/65). It does not have the legal status as an EU-regulated market. Companies at Nasdaq First North are subject to the rules of Nasdaq First North Growth Market and not the legal requirements for admission to trading on a regulated market, such as the Nasdaq Nordic Main Market. The risk in such an investment may be higher than on the main market.
The Premier segment within Nasdaq First North Growth Market is designed to further assist companies in raising investor visibility and to prepare them for a Main Market listing. The Premier segment targets companies that make a conscious decision to comply with higher disclosure and accounting standards than imposed under the Nasdaq First North Growth Market rules.
About Nasdaq
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MEDIA CONTACT:
Maarit Bystedt
tel. +358 (0)9 6166 7274
maarit.bystedt@nasdaq.com
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