06.21.18
Midsummer, a Swedish solar energy technology company, has done an initial public offering (IPO) and its shares are listed on Nasdaq First North Stockholm. As part of the IPO, the company issued new shares valued at SEK100m [$11.5 million; €9.8 million] and the share offer was oversubscribed by 400 percent.
Midsummer is a developer and supplier of advanced solar energy technology solutions for the production and installation of lightweight thin film solar panels, including manufacturing systems and BIPV solutions.
“The listing opens an opportunity for global small and large investors to own shares in a highly innovative, fast-growing and profitable solar energy technology leader, and be part of the renewable energy revolution,” said Sven Lindström, CEO and co-founder, Midsummer. “The IPO also gives us financial muscles for our planned rapid expansion, including increased production capacity of the company’s flagship DUO thin film solar cell manufacturing system, as well as the launch of Clix by Midsummer – a PV integrated metal roof.”
The IPO follows the announcement of another record financial year in 2017, during which revenues and profits doubled, as they did in 2016, mainly due to several new orders for the company’s compact DUO thin film solar cell manufacturing system.
Midsummer’s ticker code is MIDS and the company’s shares can now be traded at Nasdaq First North Stockholm, Nasdaq’s European growth market designed for small and growing companies.
Last year, Midsummer established a strategic production partnership with the Swedish roof manufacturer Clix for the launch of Clix by Midsummer, a plug & play roofing system with integrated solar panels, which has added a second business area to Midsummer.
Midsummer is a developer and supplier of advanced solar energy technology solutions for the production and installation of lightweight thin film solar panels, including manufacturing systems and BIPV solutions.
“The listing opens an opportunity for global small and large investors to own shares in a highly innovative, fast-growing and profitable solar energy technology leader, and be part of the renewable energy revolution,” said Sven Lindström, CEO and co-founder, Midsummer. “The IPO also gives us financial muscles for our planned rapid expansion, including increased production capacity of the company’s flagship DUO thin film solar cell manufacturing system, as well as the launch of Clix by Midsummer – a PV integrated metal roof.”
The IPO follows the announcement of another record financial year in 2017, during which revenues and profits doubled, as they did in 2016, mainly due to several new orders for the company’s compact DUO thin film solar cell manufacturing system.
Midsummer’s ticker code is MIDS and the company’s shares can now be traded at Nasdaq First North Stockholm, Nasdaq’s European growth market designed for small and growing companies.
Last year, Midsummer established a strategic production partnership with the Swedish roof manufacturer Clix for the launch of Clix by Midsummer, a plug & play roofing system with integrated solar panels, which has added a second business area to Midsummer.