Copenhagen September 4, 2020 - Nasdaq (Nasdaq: NDAQ) announces that trading in the Mdundo.com A/S share (short name: MDUNDO) starts today on Nasdaq First North Growth Market Denmark. Mdundo.com belongs to the Technology sector and is the seventh company, which will be admitted to trading on Nasdaq Copenhagen in 2020 and is no. 33 on the Nasdaq Nordic market*.
Mdundo's music service can be accessed online via the website www.mdundo.com and via an Android app for mobile phones. Mdundo has over 5 million active users on both the Internet and via the app as well as over 20 million downloads and streams per month. The music service is available to users worldwide, but Mdundo is both active and has its business focus in 15 countries in sub-Saharan Africa, including commercial market focus in Tanzania and Kenya, where Mdundo started in 2013, and marketing focus in Nigeria, Ghana and Uganda.
“Mdundo has 5 million monthly users, but the potential is more than 30 times greater. Based on a steep growth curve and a very scalable solution, we will invest further in user growth and in our market coverage of the whole of sub-Saharan Africa, so that within 3 years we have established Mdundo as the leading pan-African music service for consumers and musicians ", says Martin Nielsen, CEO Mdundo.com. "When we list on Nasdaq First North Growth Market, the goal is to raise capital for this international growth journey."
"We are proud to welcome Mdundo.com to the Nasdaq First North Growth Market," said Carsten Borring, Head of Listing at Nasdaq Copenhagen. "With the listing of Mdundo.com's music service solution, we continue the important investment in Danish technology start-ups, which will ensure continued growth, development and innovation, as well as the jobs of the future."
Mdundo.com A/S has appointed Kapital Partner ApS as Certified Adviser.
* Main markets and Nasdaq First North Growth Market in Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Island and Nasdaq Stockholm
About Nasdaq First North Growth Market
Nasdaq First North Growth Market is a registered SME growth market, as defined by the Directive on Markets in Financial Instruments (EU 2014/65). It does not have the legal status as an EU-regulated market. Listed companies are subject to the rules of Nasdaq First North Growth Market and not the legal requirements for admission to trading on a regulated market, such as the Nasdaq Nordic Main Market. The risk in such an investment may be higher than on the main market.
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