As announced by the Stockholm NASDAQ OMX, engineering group Cavotec SA (CCC: Stockholm) is to be included in the NASDAQ OMX Mid Cap segment, upgrading its current Small Cap listing, with effect from 2 January 2014. The move highlights the Group’s growing profile among investors since the initial NASDAQ OMX listing just over two years ago.
“This is an important day for everyone in the Cavotec family as this move clearly underlines the growing resonance of our long-term business plan, and the Group as a whole, within the investment community,” comments Stefan Widegren, Cavotec Chairman.
Since its successful listing on the NASDAQ OMX on October 19, 2011, Cavotec has steadily expanded its free float and raised its profile among retail and institutional investors, while the value of the Cavotec share has more than doubled.
“We’re delighted with the Mid Cap listing, which is another true milestone for our company. We look forward to continuing our efforts to grow the business further and generate value for our shareholders,” says Ottonel Popesco, Cavotec CEO.
Prior to being listed on the NASDAQ OMX, Cavotec was listed on the New Zealand stock exchange.
Cavotec is a leading global engineering group, developing innovative technologies that enable the maritime, airports, mining and tunnelling, and general industry sectors to operate productively and sustainably.