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Effective January 4, 2010 the Swedish online gambling software provider Net Entertainment will be upgraded from the Nasdaq OMX Stockholm small cap list to the mid cap list. The company was introduced on Nasdaq OMX Stockholm's small cap list as recently as January 13, 2009, and the change is a measure of its success. Less than one year after its introduction the share is now moving to the list for companies with a market cap between €150 million and 1 billion.
The reason is the favourable price development of the Net Entertainment shares, which have soared by 100% since trading was initiated on Nasdaq OMX Stockholm.
"Net Entertainment has continued to report strong growth and profitability during the year," said CEO Johan Öhman. "The move to Mid Cap is a milestone in the company's development".
"It is a pleasure to see a company achieve such strong development during a short period", commented Jenny Rosberg, Senior Vice President Nasdaq OMX.
Source: InfoPowa News