Truecaller debuts in Nasdaq Sweden with SEK 60 per share, valuation exceeds $ 2 billion
Truecaller is a Swedish company that generates most of its revenue from India and will return to Skr 52 within a few hours after listing on Nasdaq Sweden and opening for Skr 60 ($ 6.85).
As a result, Truecaller officially violated the $ 2 billion valuation mark. This is within the range that the company was trying to achieve. The Swedish company has announced plans to list its B shares in Nasdaq Stockholm. September 15With a price range of SEK 44-56, the market capitalization at the time of listing will be between 1.9 and 2.4 billion dollars.
On this successful day, Truecaller, co-founder and CEO Alan Mamedia tweeted.
What a wonderful moment! Thank you for supporting us over the last 12 years. This is just the beginning of our journey to make communication secure and efficient. pic.twitter.com/nxgBGa6fJ1
– Alan Mamedi (@AlanMamedi) October 8, 2021
Through this listing, the company has provided 53.4 million Class B shares (53,414,532 Class B shares), of which 19.23 million shares (19,230,770 shares) are newly issued shares and 34.18 million shares (34,183,762 Class B shares ). Has been sold by existing shareholders, including the founder. Mamedi and Zarringhalam, and investors Sequoia Capital India, Atomico, Kleiner Perkins.
The company announced plans to raise $ 116 million through the listing of B shares, adding that co-founders Nami Zaringalam and Alan Mamedy will retain control of the organization through A shares.
Truecaller allows users to filter spam calls and text messages and search for users based on their mobile phone numbers. In addition, users can call directly from the app if desired.
Truecaller has its roots in Sweden, but finds the largest market in India where users receive dozens of spam calls a week. Due to its popularity, the application can attract approximately 215.5 million active users per day, of which 76.8% are in India.
With this successful IPO, the company aims to grow its operations in existing markets and enter new ones.
Truecaller debuts in Nasdaq Sweden with SEK 60 per share, valuation exceeds $ 2 billion
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