NASDAQ OMX welcomes Vitec Software Group AB to the main market
Stockholm, July 4 2011 – NASDAQ OMX (NASDAQ:NDAQ) announces that Vitec Software Group AB (VIT B), a small cap company within the Information Technology sector, today starts trading of its shares on the main market of NASDAQ OMX Stockholm. Vitec is the 9th company to list at NASDAQ OMX main markets in 2011, and is the first company to move its listing from Aktietorget directly to the NASDAQ OMX main market.
Founded in 1985, Vitec is a market leading supplier in Sweden of software for real estate companies, real estate agents and newspaper companies. Vitec also provides administrative and technical forecasting software to the energy industry in the Nordic countries. The Vitec Group has nearly 300 employees spread over six offices in Sweden, and through the partly owned subsidiary 3L System AB, an additional two offices in Sweden and one in the U.S. Vitec had an annual turnover in 2010 of 316 million SEK.
Lars Stenlund, CEO of Vitec commented: “Today’s listing is carried out in order to facilitate Vitec’s continued development and expansion. It is the board’s assessment that the company will benefit from the quality seal that comes with a listing on NASDAQ OMX’s main market. Furthermore, the listing is also expected to strengthen the Vitec brand and thus reinforce our position among customers, employees, investors and media.”
Jenny Rosberg, Senior Vice President at NASDAQ OMX said: Vitec is an excellent example of the Nordic IT entrepreneurship, and will make a valuable addition to our technology sector. Vitec is yet another company to move its listing from a local growth market to NASDAQ OMX main market, where they will benefit from increased investor exposure and join one of Europe’s most liquid equity markets.”
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Media contacts:
Carl Norell
+46 8 405 66 39
carl.norell@nasdaqomx.com
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