Tallinn/Riga/Vilnius, Nasdaq Baltic Market, December 15, 2021 – Nasdaq (NDAQ) announces that the shares of TextMagic, an Estonian technology company, have been admitted to trading on Nasdaq Baltic First North Market by Nasdaq Tallinn as of today, December 15.
The admittance to trading of TextMagic shares follows the initial public offering of the company. The total demand for the shares was EUR 49.5 million and the offering was 19.8 times oversubscribed. 15 410 investors participated in the offering.
“Firstly, it is great to see an Estonian technology company with truly global operations raising capital and growing it’s investor base on our market. Secondly, I’m happy to see the positive momentum on the Baltic First North market which is designed to help ambitious growth companies access capital and boost their visibility,” said Kaarel Ots, CEO of Nasdaq Tallinn.
“We decided to become a public company because TextMagic has big growth plans for the next 5-10 years,” said Priit Vaikmaa, CEO of TextMagic. “The main concern in the IT business today is labor shortage. The fact that our shares are tradable on the stock exchange also makes the employee stock option program liquid and our offering more attractive to new employees,” said Vaikmaa. “By the way – following the subscription results during the IPO was more exciting than watching the soccer World Cup final.”
Law firm Eversheds Sutherland Ots & Co serves as the certified adviser for TextMagic on First North market.
TextMagic is an international text messaging company that helps small and medium-sized businesses engage with their customers. It operates mainly in the U.S., the U.K., Canada, and Australia. TextMagic enables companies to transform customer experiences through its easy-to-use text messaging marketing software, which can be used for sending notifications, alerts, reminders and confirmations as well as for conducting SMS marketing campaigns.
Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at nasdaq.com.
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com
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