Better Collective Publishes Exemption Document for Dual Listing on Nasdaq Copenhagen
Better Collective A/S has released an exemption document, allowing the admission of the company’s shares to trading and official listing on Nasdaq Copenhagen in addition to its current listing on Nasdaq Stockholm. This exemption document exempts the company from publishing a prospectus and has not been approved by any regulatory authority. The dual listing will not involve the offering of new shares and will not impact the total number of outstanding shares.
The exemption document, along with other relevant documents, can be found on the company’s website. The document provides a summary of the company and its dual listing but does not include all material information or an exhaustive list of risks associated with the company and the dual listing.
Nasdaq Approval and First Day of Trading
Better Collective’s admission to trading and official listing on Nasdaq Copenhagen has been conditionally approved. The first day of trading is scheduled for November 17, 2023. Existing shareholders will need to transfer and exchange their shares from Nasdaq Stockholm to Nasdaq Copenhagen in order to trade on Nasdaq Copenhagen.
Shares listed on Nasdaq Copenhagen will be traded in DKK, while shares on Nasdaq Stockholm will remain listed and traded in SEK.
CEO Jesper Søgaard expressed excitement about the dual listing, anticipating a positive response from Danish investors and stakeholders.
Technical Transfer and Exchange
Existing shareholders can request the transfer of their shares from Nasdaq Stockholm to Nasdaq Copenhagen by contacting their custodian banks. Better Collective has provided an application form on their website for this purpose. The company will cover any costs charged by Euroclear Sweden for the transfer and exchange, as long as it is completed by December 15, 2023. Shareholders are responsible for any costs charged by their own custodian banks.
Liquidity Provider and Background
Nordea Bank Abp has been appointed as the liquidity provider for Better Collective shares on Nasdaq Copenhagen. Their role is to ensure sufficient liquidity in the shares by quoting acceptable prices for buying or selling.
The dual listing is seen as a natural step for the company, which was founded in Denmark. It is expected to enhance employer branding and brand awareness.
Danske Bank and Nordea served as financial advisers and joint global coordinators for the dual listing, while Bech-Bruun, Setterwalls, and Plesner provided legal advice.