Penneo to list on Nasdaq Copenhagen Main Market

Company Announcement No. 9-2022
Copenhagen, 29 March 2022

With reference to company announcement no. 16-2021, Penneo today announces initiation of the process for admission to trading and official listing of Penneo’s shares on Nasdaq Copenhagen Main Market. 

Penneo has submitted an application for deletion of the shares from trading on Nasdaq First North Growth Market Denmark in connection with and conditional upon an application for its shares to be admitted to trading and official listing on Nasdaq Copenhagen Main Market under the Company’s existing symbol “PENNEO” and under the ISIN code of the existing shares DK0061283009. There will not be any offering of securities for sale or subscription in connection with the listing.

By moving onto the Main Market, Penneo expects to be able to attract a wider range of national and international institutional investors to ensure additional international attention and increased share liquidity to support Penneo’s growth ambitions through the expansion strategy. 

Chairman of the Board of Directors Christian Sagild comments: “Penneo was listed on Nasdaq First North on 2 June 2020 and has since the listing delivered on its IPO promises and made several key accomplishments such as:

• Fulfilling the growth strategy of the Company Description of May 2020 
• Acquiring CLA Reply’s KYC software 
• Realising an ARR growth rate of 50% in 2021 compared to a guided ~40% ARR growth rate in the Company Description of May 2020
• Raising ~60M DKK from reputable institutional investors 

As a result of these accomplishments, migrating to Nasdaq Copenhagen Main Market is a natural next step for Penneo where we can continue to deliver on our promises.”

Penneo expects Nasdaq Copenhagen to approve the deletion subject to and conditional upon the admission to trading and official listing of its shares on Nasdaq Copenhagen Main Market following the publication of a listing prospectus.

The expected timetable for the transfer of Penneo’s shares to Nasdaq Copenhagen Main Market is contemplated as follows:

• Publication of Listing Prospectus no later than 1 April 2022 before 09:00
• Last day of trading on Nasdaq First North Growth Market Denmark on 1 April 2022
• First day of trading and official listing on Nasdaq Copenhagen’s Main Market on 4 April 2022