Nasdaq Welcomes Punktid Technologies to the Baltic First North Market
Tallinn/Riga/Vilnius, Nasdaq Baltic Market, May 19, 2022 – Nasdaq (Nasdaq: NDAQ) announces that shares of Punktid Technologies (ticker: PNKTD) have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Tallinn as of today, May 19. Punktid is an Estonian company which owns and develops the largest online sales environment for digital codes of video games in Estonia.
The listing of the Punktid Technologies shares follows the initial public offering to Estonian investors.
“It’s our pleasure to welcome yet another growth company to the Baltic First North market. Punktid Technologies and the field they operate on expands the variety of industries the Baltic investors can publicly invest in,” said Kaarel Ots, CEO of Nasdaq Tallinn.
Hannes Niid, CEO of Punktid Technologies, said the company’s entry to the First North alternative market is largely related to marketing and visibility. “In the past, we have raised money directly from private investors. Being on the public market provides much more transparency and increases trustworthiness,” added Niid. “Additionally, the advantage is that employees can exercise their stock options after a certain period of time.”
“The main goal of our public fundraising from investors was to expand the operations of the Punktid group both to Finland and throughout the Baltics. In addition, we want to focus on developing our online mediation service in Estonia and neighboring countries in the near future,” added Niid.
The law firm Sorainen advised the company in the public offering and listing process and serves as the certified adviser for Punktid on the First North market.
Punktid Technologies AS is a holding company established and operating in Estonia which has two subsidiaries, Gamekeys OÜ and HVK Business OÜ. Punktid group owns and develops the largest online sales environment for digital codes of video games, Nintendo, PlayStation and Xbox in Estonia.
Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.
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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com
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