Phone Family’s scandal-lined exchange trip comes to an end, at least on Nasdaq First North list.
The company announced on Thursday that they have applied for a delisting. The exact date of exit is not decided. The plan is to share the future to be traded on Mangold’s internal Small Cap list.
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” The costs of a continued listing can not be justified by reference to the prevailing market situation and the very low liquidity the share. In addition, responding company is not up to the distribution requirement under the rules of the Nasdaq First North has set the listing requirements, “the company said in a press release.
After Phone Family’s listing in 2014, the negative slips lined up, including the company’s own forecasts proved to be grossly overestimated.
During the winter, new money taken in through a partnership with the telemarketing company PEC Sweden, which is now the largest shareholder with 50.3 percent of the shares.
The share slopes on the news. In one year the price has fallen from a peak of nearly SEK 15 down to about 1 per share.
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