Hacksaw AB, a prominent iGaming supplier, is set to make waves in the financial market with its upcoming initial public offering (IPO). The company’s shareholders aim to raise a substantial sum through a significant share sale.
Key Takeaways:
- Hacksaw AB plans to offer 50 million shares, potentially raising $378 million
- The company’s revenue grew by 104% in 2024 compared to the previous year
- Trading on Nasdaq Stockholm is expected to begin on June 25
Hacksaw AB’s IPO: A Closer Look
Hacksaw AB, known for its innovative iGaming solutions, has released its IPO prospectus, revealing plans to offer up to 50 million shares at SEK77 (approximately $7.55) each. This move could potentially raise €351.1 million (about $378 million) for the company’s shareholders.
Christoffer Källberg, Hacksaw group CEO, stated, ‘By publishing the prospectus, we are taking another important step towards an IPO of the iGaming provider.’ He noted significant investor interest in the company’s technology-driven offerings and scalable business model.
The offering period is set to begin on June 16, with trading on Nasdaq Stockholm expected to commence on June 25. It’s worth noting that as the offering involves only existing shareholders, Hacksaw AB will not receive any proceeds from the sale.
Financial Performance and Growth
Hacksaw AB’s financial track record has been impressive. In 2024, the company generated €137.1 million (approximately $147.5 million) in revenue, marking a 104% increase from 2023 and a 328% rise compared to 2022. The first quarter of 2025 saw revenue of €45 million (around $48.4 million), up from €26.3 million (about $28.3 million) in Q1 2024.
These figures translated into substantial profits, with a post-tax profit of €109.4 million (approximately $117.7 million) for 2024 and €30.1 million (about $32.4 million) for the first quarter of 2025.
Benefits for Potential Shareholders
Hacksaw AB highlighted several advantages for potential shareholders, including:
1. Broadening the shareholder base
2. Gaining access to Swedish and international capital markets
3. Supporting ongoing growth and development
4. Enhancing visibility among customers and stakeholders
5. Enabling selling shareholders to liquidate a portion of their holdings
Impact on the iGaming Industry
As a leading supplier in the iGaming sector, Hacksaw AB’s IPO could have significant implications for the industry. The company’s strong financial performance and growth trajectory may attract increased attention to the iGaming market, potentially driving further investment and innovation in the sector.
For casino operators and players alike, Hacksaw AB’s continued success and expansion could lead to more diverse and advanced gaming offerings in the future. The IPO also underscores the growing financial strength and maturity of the iGaming industry, which has seen rapid growth in recent years.
As the June 25 trading date approaches, all eyes will be on Hacksaw AB and its potential impact on both the financial markets and the iGaming landscape.
