Nasdaq Stockholm welcomes Tebede AB to the Main Market

Stockholm, Oct 23, 2023 - Nasdaq (Nasdaq: NDAQ) announces that trading in the
shares of Tebede AB (ticker name TEBEDE) will commence today on the Nasdaq
Stockholm Main Market. Tebede is a small cap company within the Financials
sector. Tebede was listed as a Special Acquisition Company, SPAC, on Nasdaq
Stockholm in June 2021. After the business combination with Spolargruppen AB in
April 2022, it was listed on Nasdaq First North Growth Market Sweden. Tebede is
the 24th company to be admitted to trading on Nasdaq's Nordic markets* in 2023. 

Tebede's operations are mainly conducted via the subsidiary Spolargruppen,
which is active within property related pipe flushing and relining.
Spolargruppen's customers mainly consist of commercial property managers and
housing cooperatives. Tebede has a clear growth strategy with a focus on both
acquisitions and organic growth, including through greenfieldings in new
locations. 

"We are proud to be listed on Nasdaq Stockholm Main Market and see this as an
important confirmation of our work and our leading position in the industry. We
view the listing on the main market as a seal of approval that creates a
potential for a broader shareholder base and increased liquidity in the stock.
Our ambition to offer a wide range of property-related services remains
unchanged and will continue to be the foundation for our profitable growth,"
says Anders Lönnqvist, CEO of Tebede. 

"Tebede was the first SPAC to do an acquisition and a listing following the
business combination on Nasdaq Stockholm in April 2022," said Adam Kostyál,
Head of European Listings at Nasdaq. "We are excited to see Tebede to transfer
from Nasdaq First North to the Main Market today, and we look forward to
supporting them with the increased investor exposure that comes with a main
market listing." 

*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki,
Nasdaq Iceland and Nasdaq Stockholm as well as Nasdaq Baltic. 

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www.nasdaq.com. 

Nasdaq Media Contact:
Erik Gruvfors
[phone]
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