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MEDS Apotek AB withdraws from the listing process.
Prenumeration
Stockholm, Sweden (Reuters) - MEDS Apotek's Board of Directors has decided to suspend the ongoing listing process on the Nasdaq First North Growth Market. On August 29, the company announced a preliminary first trading day in the first week of October. Since then, market conditions have deteriorated significantly.
Due to the equity market turmoil, the Board does not consider the present conditions to be conducive for a positive development of the share with satisfactory liquidity. As a result, the Board has decided to suspend the current listing process. When the conditions are favorable, a listing of the company's shares remains the objective.
"Throughout September, we held a large number of meetings and market-related activities, in Sweden and Europe. The response has been positive. Despite this, listing the company under current market conditions would be a high risk. In the best interests of our shareholders, we have decided to suspend the current listing for now and return later. "MEDS Apotek AB co-founder and CEO Björn Thorngren commented.
For further information please contact:
Björn Thorngren
CEO
Meds Apotek AB
Mobile: + 46-73.6723175
E-mail: bjorn@meds.se
Thomas Ahlerup
Investor Relations
Mobile: +46-768-966300
E-mail: ir@meds.se
FNCA Sweden AB is appointed by Meds Apotek AB as Certified Adviser. Phone: +46 (0) 8 528 00 399. E-post: info@fnca.se