Danish tech company DecideAct is now part of the Nasdaq First North Growth Market Denmark. The listing follows a successful Initial Public Offering (IPO) that raised $3.04 million from about 2,956 subscribers.
The IPO carried out between November 26 to December 9, 2020, availed about 2.27 million shares, each selling at $1.34. A share of 36% was pre-subscribed with 64% coming from the open public subscriptions.
On the first trading day, DecideAct attracted 3,006 shareholders and an increase of over 40% of the shares in the free float. The shares opened with a rise of 35%, which bodes well for future trading. DecideAct trades under the ticker ACT.
DecideAct notes that all the net proceeds from the offering will be reinvested in the company. The focus will be on sales, marketing, and product development activities as part of a growth strategy. The company’s current model seeks to elevate it to an international status.
DecideAct’s listing significance
Carsten Borring, listing manager at Nasdaq Copenhagen highlights the importance of DecideAct. Borring notes:
“DecideAct is among the impressive list of smaller Danish companies that have chosen to go public in 2020, and which testify to the great interest in stock exchange listings among investors and entrepreneurs in Denmark. It is gratifying that investors will help to support the Danish technology companies and get growth, ensure development and innovation, and form a breeding ground for the jobs of the future.”
DecideAct has developed a groundbreaking cloud solution that helps companies implement their strategies.