Clean Motion Gets Listed On Nasdaq First North Exchange
The board decided to take advantage of the subscription option, which meant that the issued amount was increased to 2.8 million
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Sweadish manufacturer Clean Motion AB has listed on Nasdaq First North. The trading started on 26 May.
Before the listing, the subscription period was approximately $2.17 million. In total, the issued amount was $1.31 million. The subscription rate was thus approximately 600 per cent.
The board decided to take advantage of the subscription option, which meant that the issued amount was increased to 2.8 million.
Göran Folkesson, CEO of Clean Motion said, "We´re in a very exciting phase where we see the listing on Nasdaq as a natural step in our development. The interest in our public offering has been great. As Nasdaq now has approved our application for listing we look forward to the first day of trading which will attract an even greater interest in our activities both in Europe, Indonesia and India".
"The public response in the IPO, which was oversubscribed by 600 per cent, reflects that we are on the right path on building a sustainable business. The premium service that is offered in Gurgaon, India, can be replicated all across the country and the same model also has global potential. Zbee will make a great change into eco friendly everyday transport", said Anil Arora, Country Head of Zbee India.
Clean Motion AB is a Swedish Cleantech company that develops, manufactures and sells electric vehicles for a sustainable urban environment. The company's vision is to develop resource-efficient vehicle solutions based on the best available technology and make them available to all. The company's first product, Zbee, is a lightweight three-wheeled vehicle with extremely high energy-efficiency, which not only have a minimal impact on the climate, but also create a good economy.