21 June 2018

Midsummer lists on Nasdaq First North Stockholm after IPO 5x oversubscribed

© Semiconductor Today Magazine / Juno PublishiPicture: Disco’s DAL7440 KABRA laser saw.

Midsummer AB of Järfälla, near Stockholm, Sweden – a provider of turnkey production lines as well as flexible, lightweight copper indium gallium diselenide (CIGS) thin-film solar panels for building-integrated photovoltaics (BIPV) – has completed its initial public offering (IPO), issuing new shares worth about SEK100m ($11.5m; EUR9.8m), listed as ‘MIDS’ on Nasdaq First North Stockholm (Nasdaq’s European growth market designed for small and growing companies). The share offer was oversubscribed by 400%.

As well as being financial adviser in connection with the IPO, G&W Fondkommission is Midsummer’s certified adviser at Nasdaq First North Stockholm.

“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,” says CEO & co-founder Sven Lindström. “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.”

Last year, Midsummer established a strategic production partnership with 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.

The IPO follows the announcement of another record financial year (in 2017) during which revenue and profits doubled (as they did in 2016), due mainly to several new orders for the compact DUO thin-film solar cell manufacturing system.

See related items:

Midsummer doubles annual revenue and profit

Tags: CIGS Thin-film PV

Visit: www.midsummer.se