press center press release

Semi-Annual Review of the First North 25 Index


New portfolio of the First North 25 index will become effective January 2, 2019

Stockholm, December 18, 2018 — Nasdaq (Nasdaq:NDAQ) announced today the updated results of the semi-annual review of the First North 25 Index (Nasdaq Stockholm: FN25) that will become effective with the market open on Wednesday, January 2, 2019.

Maha Energy AB A (MAHA A), Iceland Seafood International (ICESEA), IRLAB Therapeutics AB ser. A (IRLAB A), aXichem AB ser. A (AXIC A) and CELLINK AB ser. B (CLNK B) will be added to the portfolio. GomSpace Group AB (GOMX), HRC World Plc (HRC), Next Games Oyj (NXTGMS) and SaltX Technology Holding AB se (SALT B) will be removed from the index.

The FN25 consists of the largest and most traded shares listed on Nasdaq First North. Companies included in the FN25 are selected through a two-step process as follows:

  • The 30 largest companies measured by market capitalization are selected.
  • The 25 most traded shares within this pool, measured by aggregated trading turnover over a six month period, are then chosen. 

FN25 is reviewed semi-annually in January and July.

The First North 25 Index constituents effective January 2, 2019 are:

Aspire Global plc Kvika banki hf.
aXichem AB ser. A Maha Energy AB A
BIMobject AB Nordic Leisure AB
CELLINK AB ser. B Paradox Interactive AB
Cibus Nordic Real Estate AB PowerCell Sweden AB
Cinnober Financial Technology SamhAllsbyggnadsbolaget i Nord
Climeon AB ser. B Sdiptech AB B
Detection Technology Oyj Sedana Medical AB
Fastighets AB Trianon ser. B Stillfront Group AB
Global Gaming 555 AB THQ Nordic AB ser. B
Iceland Seafood International Oyj
IRLAB Therapeutics AB ser. A Vostok Emerging Finance Ltd
Kambi Group plc

About Nasdaq First North

Nasdaq First North is regulated as a multilateral trading facility, operated by the different exchanges within Nasdaq Nordic (Nasdaq First North Denmark is regulated as an alternative marketplace). It does not have the legal status as an EU-regulated market. Companies at Nasdaq First North are subject to the rules of Nasdaq First North and not the legal requirements for admission to trading on a regulated market. The risk in such an investment may be higher than on the main market.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to over 4,000 total listings with a market value of approximately $15 trillion. To learn more, visit

Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.

Cautionary Note Regarding Forward-Looking Statements

The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.

Media Relations Contact
Erik Granström
+46 73 449 78 07

In This Story

Nasdaq Press Center

Read the latest press releases, request a press kit, and get in touch with our press team.

learn more