Finance

Fantasma raises SEK21.3m with IPO oversubscribed by 1,269%

| By Robert Fletcher
Slot developer Fantasma Games has raised SEK 21.3m (£1.8m/€21.0m/$25.0m) through an oversubscribed initial public offering (IPO).

The total subscription amount totalled SEK216.0m and corresponded to what Stockholm-based Fantasma said was an “unexpected” subscription ratio of 1,269%.

Fantasma will add 1,000 new shareholders as a result of the IPO, with 700,000 shares 560,000 warrants of series TO1 issued via the offering.

Approximately 68% of the offer was submitted by the Fantasma board and its management, while the IPO also attracted investment from the likes of Betsson chief executive Pontus Lindwall, investor Christian Rasmussen, KL Capital AB and Mangold Fondkommisison AB.

Following the offering, Fantasma will list on the Nasdaq First North exchange from tomorrow (23 March).

“We feel incredibly inspired by the great interest we have seen from investors in our listing issue where more than 4,000 investors have requested subscriptions,” Fantasma chief executive Björn Kjellsson said.

“Together with the rest of the team at Fantasma, I look forward to bringing both old and new shareholders into the next phase of our development which promises to be incredibly exciting as we take the business to the next level.”

Subscribe to the iGaming newsletter

WildFlower