Stockholm, October 27, 2017 — Nasdaq (Nasdaq: NDAQ) announced that Ferronordic Machines AB (short name: FNM), a mid cap company active within the construction equipment market in Russia, has started trading of its ordinary shares on the main market of Nasdaq Stockholm. Ferronordic Machines (“Ferronordic”) is the 92nd company to list at Nasdaq’s Nordic markets* in 2017.
Founded in 2010, Ferronordic is the authorized dealer of Volvo Construction Equipment, Terex Trucks, Dressta, Mecalac and Rottne in Russia. In certain parts of the country, Ferronordic has also been appointed aftermarket dealer for Volvo and Renault Trucks and dealer for Volvo Penta. The group is established in all federal districts of Russia, with 74 outlets and more than 800 employees. Ferronordic’s vision is to be regarded as the leading service and sales company in the CIS markets. For more information, please visit www.ferronordic.com.
“We are proud of the great interest shown in Ferronordic during the listing process, both from the general public and institutional investors,” said Lars Corneliusson, CEO of Ferronordic. “The listing and issue of new ordinary shares strengthen the balance sheet further, giving us even better possibilities to realize our strategy and capture the existing growth opportunities. We look forward to continuing the development of Ferronordic as a leading service- and sales company together with both new and existing shareholders.”
“We welcome Ferronordic to the Nasdaq Stockholm main market,” said Adam Kostyál, SVP and Head of European listings at Nasdaq. “Ferronordic currently has its preference shares listed on Nasdaq First North Premier and we are excited to now see the company list its ordinary shares on our main market. We look forward to supporting them in their continued journey as a main market listed company.”
*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm.
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