Biometric technology company Zwipe has marked on January 28th the first day of trading of its shares on Oslo Stock Exchange's Merkur Market under the ticker symbol ZWIPE-ME. The event follows a recent NOK 120 million (USD 14 million) capital raise, conducted to strengthen the company's financial position and fund the further development and commercialisation of the company's technology.
At the opening of trade this morning at 09:00 CET, CEO André Løvestam, joined by the Zwipe management team and board of directors, will ring the opening bell at the Oslo Stock Exchange, marking a significant milestone in the history of the company.
"On a mission of Making Convenience Secure, Zwipe is positioned at the forefront of a global shift towards contactless payment. Partnering with global industry leaders, we are on the cusp of making Zwipe-enabled biometric payment cards available to consumers worldwide. Through the successful capital raise and today’s admission to trading on Merkur Market we have strengthened our balance sheet and broadened our shareholder base, both important factors supporting us as we continue to pursue our growth strategy,” Zwipe CEO, André Løvestam, said commenting on the first day of trading.
A total of 15,946,205 shares with a face value of NOK 20.00 will today be admitted to trading on Merkur Market. A total of 6,000,000 new ordinary shares were issued following Zwipe’s recent share offering, raising NOK 120 million (USD 14 million) in new equity capital for the company. In addition, a convertible loan of NOK 9.4 million (USD 1.1 million) including accrued interest was converted to a total of 520,543 new ordinary shares in the company. Prior to the share offering and loan conversion, Zwipe had 9,425,662 ordinary shares outstanding.