Fantasma Games, a Stockholm-based igaming software studio, has closed its oversubscribed initial public offering ahead of its March 23 launch on the NASDAQ First North.
According to the company, the SEK 21 million (£1.8 million) IPO was massively oversubscribed, with a net subscription volume of SEK 216 million (£18.2 million) and an unexpected subscription ratio of 1,269 percent.
Fantasma would gain 1,000 new owners as a result of the issuance of 700,000 shares and 560,000 series TO1 warrants. Fantasma’s board and management, as well as Mangold Fondkommisison, Pontus Lindwall, KL Money, and Christian Rasmussen, submitted about 68 percent of the bid.
Inspired by the great interest
Fantasma Games CEO Björn Kjellsson explained: “We feel incredibly inspired by the great interest we have seen from investors in our listing issue where more than 4,000 investors have requested subscriptions.
“We would like to thank all investors for the clear trust regarding our business model and strategy, which enables continued expansion and growth for our business.
“Together with the rest of the team at Fantasma, I look forward to bringing both old and new shareholders into the next phase of our development which promises to be incredibly exciting as we take the business to the next level.”