January 27, 2022

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Norwegian Block Exchange announces Oslo listing just three months after plans were first suspended

Norwegian Block Exchange announces Oslo listing just three months after plans were first suspended

Not more than three months ago, the cryptocurrency company Norwegian Block Exchange, which was started by Norwegian founder Bjørn Kjos in 2018, has… Plans to list on Euronext Growth in Oslo were thwarted.

The reason was because Euronext has internationally researched companies in the cryptocurrency industry regarding listings.

– We don’t care about spending more time on that in Norway. Now we are looking at Sweden and Nasdaq. When they spend a lot of time on it, we move forward, senior manager Stig Kjos Mathisen said at the time.

Now he and the company have turned 180 degrees.

The crypto company announced Friday that it has applied for a listing on Euronext Growth.

At a price of more than half a billion.

The company raised 60 million Norwegian kroner in new capital in December 2020 and will not increase capital in connection with the next public offering, it is reported.

Shares have been trading on the Norwegian Stock Exchange recently for 8 NOK per share in the so-called OTC market for unlisted companies. This gives the company a market value of NOK 519 million. Euronext’s first trading day is expected to be growth in the “near future,” it was reported.

In the future, the company will be licensed as an electronic money company and become a bank.

The financial industry of the future is built on blockchain technology. We have a popular and fast growing crypto exchange, a strong technology portfolio and a very strong team. It is a good starting point for becoming the leading comprehensive provider of financial services based on blockchain technology. As part of this, we have a concrete plan to become the first crypto bank in the North, and therefore one of the first in the world, says Kjos-Mathisen.

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I lost money last year

In 2020, the company made a pre-tax profit minus NOK 23.7 million, and the loss was higher than the previous year. then mentioned The NBX chief said the company had a good start in 2021, but didn’t budget to make a profit until sometime late fall.

The Norwegian Block Exchange was the first Norwegian exchange to take off abroad, mainly in Sweden and Denmark to begin with.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.