This week Nasdaq announced that Scandic Hotels Group AB, a mid cap company within the consumer services sector, has started trading of its shares on the main market of Nasdaq Stockholm. Scandic is the 86th company to list at Nasdaq’s Nordic markets* in 2015, according to a press release issued by the stock exchange.
Scandic, founded in 1963, is the largest Nordic hotel operator with a strong network in the Nordic region and selective coverage in Germany, Poland and Belgium. In total Scandic’s network encompasses 224 hotels and almost 42,000 hotel rooms in seven countries. Scandic has a diversified hotel portfolio, with more than 95 percent of the rooms in the Nordic countries, providing customers with access to quality hotel with a complete product range including hotel accommodations, restaurants and meeting facilities in all key business and leisure destinations throughout the region. Scandic has the largest loyalty program in the Nordic hotel industry, ‘Scandic Friends’, with over 1.6 million members. Scandic employs approximately 14,000 people and is headquartered in Stockholm, Sweden. Scandic’s mission is to create great hotel experiences for the many people.
“We are extremely happy about the positive reception we have received from institutional investors – in Sweden and abroad – and the general public,” said Frank Fiskers, President and CEO of Scandic Hotels Group. “It is a confirmation of our leading market position, the quality of our company and our ability to generate profitable growth. The listing is a key milestone for the company and my team and I are looking forward to realizing our ambitions going forward together with our new shareholders.”
“We are excited to welcome Scandic to the Nasdaq Stockholm main market,” said Adam Kostyál, senior vice president and head of European listings at Nasdaq. “Scandic will make a strong addition to our vibrant consumer services sector, and we look forward to supporting the company with the increased investor visibility that comes with a main market listing.”
*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm.
Photo: Scandic Hotels’ president & CEO Frank Fiskers.