Zwipe rings opening bell at Oslo Stock Exchange marking first day of trading
Biometric technology company Zwipe opened the first day of trading of its shares on Oslo Stock Exchange’s Merkur Market today under the ticker symbol ZWIPE-ME. At 09:00 CET, CEO André Løvestam and the Zwipe management team and board of directors rang the opening bell at the Oslo Stock Exchange to mark this significant milestone in the company history.
This follows a recent NOK 120 million (USD $14 million) capital raise to strengthen the company’s financial position and fund the further development and commercialization of its technology.
“On a mission of Making Convenience Secure, Zwipe is positioned at the forefront of a global shift towards contactless payment,” Zwipe CEO André Løvestam commented on the first day of trading. “Partnering with global industry leaders, we are on the cusp of making Zwipe-enabled biometric payment cards available to consumers worldwide. Through the successful capital raise and today’s admission to trading on Merkur Market we have strengthened our balance sheet and broadened our shareholder base, both important factors supporting us as we continue to pursue our growth strategy.”
According to a company announcement, a total of 15,946,205 shares with a face value of NOK 20.00 will today be admitted to trading on Merkur Market. A total of 6,000,000 new ordinary shares were issued following Zwipe’s recent share offering, raising USD $14M in new equity capital for the company. In addition, a convertible loan of USD $1.1M including accrued interest was converted to a total of 520,543 new ordinary shares in the company. Prior to the share offering and loan conversion, Zwipe had 9,425,662 ordinary shares outstanding.