Market Cap Segment Review at Nasdaq Nordic Exchanges
Stockholm/Helsinki/Copenhagen/Reykjavik, December 16, 2022 — Nasdaq (Nasdaq: NDAQ) reports that the annual review of its Nordic market capitalization (market cap) segments is completed. The revision is based on the average market cap value in November 2022. Together with indexes and sector classifications, the market cap segmentation is a tool to increase visibility for companies listed on Nasdaq’s exchanges in Stockholm, Helsinki, Copenhagen and Iceland.
Effective January 2, 2023, the following 41 companies will change segment: 21 companies will change to a larger segment, while 20 companies will change to a smaller segment.
|
Name |
Current Segment |
New Segment |
Exchange |
|
International Petroleum Corporation |
Mid Cap |
Large Cap |
STOCKHOLM |
|
Lundin Gold Inc. |
Mid Cap |
Large Cap |
STOCKHOLM |
|
Arctic Paper S.A. |
Small Cap |
Mid Cap |
STOCKHOLM |
|
KABE Group AB ser. B |
Small Cap |
Mid Cap |
STOCKHOLM |
|
Net Insight AB ser. B |
Small Cap |
Mid Cap |
STOCKHOLM |
|
New Wave Group AB ser. B |
Mid Cap |
Large Cap |
STOCKHOLM |
|
Midsona AB ser. A |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Midsona AB ser. B |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Vivesto AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Orexo AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Diös Fastigheter AB |
Mid Cap |
Large Cap |
STOCKHOLM |
|
Arise AB |
Small Cap |
Mid Cap |
STOCKHOLM |
|
Ework Group AB |
Small Cap |
Mid Cap |
STOCKHOLM |
|
SAS AB |
Large Cap |
Mid Cap |
STOCKHOLM |
|
Ferronordic AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Immunovia AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Cantargia AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Oncopeptides AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Isofol Medical AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Xspray Pharma AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
BioArctic AB ser. B |
Mid Cap |
Large Cap |
STOCKHOLM |
|
BHG Group AB |
Large Cap |
Mid Cap |
STOCKHOLM |
|
Q-Linea AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
BICO Group AB |
Large Cap |
Mid Cap |
STOCKHOLM |
|
Readly International AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Pierce Group AB |
Mid Cap |
Small Cap |
STOCKHOLM |
|
Mildef Group AB |
Small Cap |
Mid Cap |
STOCKHOLM |
|
K-Fast Holding AB B |
Large Cap |
Mid Cap |
STOCKHOLM |
|
Addnode Group AB ser. B |
Mid Cap |
Large Cap |
STOCKHOLM |
|
Modern Times Group MTG AB ser. A |
Mid Cap |
Large Cap |
STOCKHOLM |
|
Modern Times Group MTG AB ser. B |
Mid Cap |
Large Cap |
STOCKHOLM |
|
Gaming Innovation Group Inc. |
Small Cap |
Mid Cap |
STOCKHOLM |
|
Brim hf. |
Mid Cap |
Large Cap |
ICELAND |
|
Origo hf. |
Small Cap |
Mid Cap |
ICELAND |
|
Síldarvinnslan hf. |
Mid Cap |
Large Cap |
ICELAND |
|
YIT Corporation |
Large Cap |
Mid Cap |
HELSINKI |
|
MT Højgaard Holding A/S |
Small Cap |
Mid Cap |
COPENHAGEN |
|
D/S Norden |
Mid Cap |
Large Cap |
COPENHAGEN |
|
Orphazyme A/S |
Mid Cap |
Small Cap |
COPENHAGEN |
|
TORM plc A |
Mid Cap |
Large Cap |
COPENHAGEN |
|
SAS AB |
Large Cap |
Mid Cap |
COPENHAGEN |
About the Market Cap Segments
Companies belong to a market cap segment (Small-, Mid- and Large Cap) based on their average market value during the given review month. Each segment is reviewed annually based on the average market cap in November with adjustments taking effect in January the following year. The market cap calculations are based on the total number of shares, i.e., both listed and non-listed shares, of a company. Companies with a market value exceeding EUR 1 billion are in the group of “Large Cap”, while companies with a market value between EUR 150 million and EUR 1 billion belong to the “Mid Cap” segment. Companies with a market value smaller than EUR 150 million belong to “Small Cap”.
12-month transitional period
Companies whose market cap has moved outside the reference values for their current classification are moved between segments according to the following rule: If their market cap is less than 50 percent of the minimum or more than 150 percent of the maximum threshold of their current segments they are transferred into a new segment with immediate effect. On the other hand, if their market cap is greater than 50 percent of the minimum or less than 150 percent of the maximum threshold of their current segment, they are subject to a transitional period and thus one more review before transferring into a new segment. Hence, based on the EUR 1 billion Large Cap and EUR 150 million Mid Cap thresholds, a Large Cap company whose market cap value has not fallen below EUR 500 million, and a Mid-cap company whose market cap value has not fallen below EUR 75 million, are subject to a second review before moving down to the new segment. Similarly, a Mid Cap company whose market cap value has not exceeded EUR 1.5 billion and a Small-cap company whose market cap value has not exceeded EUR 225 million, are subject to a second review before moving up to the new segment.
About Nasdaq
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Nasdaq Media Contact
Erik Gruvfors
+46 73 449 78 12
erik.gruvfors@nasdaq.com
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