Correction: Market Cap Segment Review at Nasdaq Nordic Exchanges
Nasdaq (Nasdaq: NDAQ) reported that the annual review of its Nordic market capitalization (market cap) segments was completed on December 20, 2023. The revision was based on the average market cap value in November 2023. Together with indexes and sector classifications, the market cap segmentation is a tool to increase visibility for companies listed on Nasdaq’s exchanges in Stockholm, Helsinki, Copenhagen and Iceland.
Due to a calculation error, the earlier press release published on December 20, 2023, incorrectly stated that Samhällsbyggnadsbolaget i Norden AB (Nasdaq Stockholm: SBB B, SBB D) was to move from Large to Mid Cap segment. However, the company shall have remained in Large Cap segment.
Effective January 2, 2024, the following 45 companies (instead of 46 companies) changed segment: 6 companies changed to a larger segment, while 39 (instead of 40) companies changed to a smaller segment.
Name | Current Segment | New Segment | Exchange |
AB Fastator | Mid Cap | Small Cap | STOCKHOLM |
Annehem Fastigheter AB ser. B | Mid Cap | Small Cap | STOCKHOLM |
Balco Group AB | Mid Cap | Small Cap | STOCKHOLM |
Besqab AB | Mid Cap | Small Cap | STOCKHOLM |
Betsson AB ser. B | Mid Cap | Large Cap | STOCKHOLM |
Better Collective A/S | Mid Cap | Large Cap | STOCKHOLM |
Boozt AB | Large Cap | Mid Cap | STOCKHOLM |
Bufab AB | Large Cap | Mid Cap | STOCKHOLM |
Bulten AB | Mid Cap | Small Cap | STOCKHOLM |
Byggfakta Group Nordic HoldCo AB | Large Cap | Mid Cap | STOCKHOLM |
Camurus AB | Mid Cap | Large Cap | STOCKHOLM |
Cint Group AB | Large Cap | Mid Cap | STOCKHOLM |
CoinShares International Ltd | Small Cap | Mid Cap | STOCKHOLM |
Eltel AB | Mid Cap | Small Cap | STOCKHOLM |
Fingerprint Cards AB ser. B | Mid Cap | Small Cap | STOCKHOLM |
HANZA AB | Small Cap | Mid Cap | STOCKHOLM |
Hexatronic Group AB | Large Cap | Mid Cap | STOCKHOLM |
IRLAB Therapeutics AB ser. A | Mid Cap | Small Cap | STOCKHOLM |
K2A Knaust & Andersson Fastigheter Pref | Mid Cap | Small Cap | STOCKHOLM |
K2A Knaust & Andersson Fastigheter B | Mid Cap | Small Cap | STOCKHOLM |
Netel Holding AB | Mid Cap | Small Cap | STOCKHOLM |
Nordisk Bergteknik AB ser. B | Mid Cap | Small Cap | STOCKHOLM |
Orrön Energy AB | Large Cap | Mid Cap | STOCKHOLM |
Ovzon AB | Mid Cap | Small Cap | STOCKHOLM |
Platzer Fastigheter Holding AB ser. B | Large Cap | Mid Cap | STOCKHOLM |
SAS AB | Mid Cap | Small Cap | STOCKHOLM |
Sdiptech AB Pref | Large Cap | Mid Cap | STOCKHOLM |
Sdiptech AB ser. B | Large Cap | Mid Cap | STOCKHOLM |
Sivers Semiconductors AB | Mid Cap | Small Cap | STOCKHOLM |
Stillfront Group AB | Large Cap | Mid Cap | STOCKHOLM |
SynAct Pharma AB | Mid Cap | Small Cap | STOCKHOLM |
Tobii AB | Mid Cap | Small Cap | STOCKHOLM |
Viaplay Group AB ser. A | Large Cap | Mid Cap | STOCKHOLM |
Viaplay Group AB ser. B | Large Cap | Mid Cap | STOCKHOLM |
Volati AB | Large Cap | Mid Cap | STOCKHOLM |
Volati AB Pref | Large Cap | Mid Cap | STOCKHOLM |
Wästbygg Gruppen AB ser. B | Mid Cap | Small Cap | STOCKHOLM |
Xbrane Biopharma AB | Mid Cap | Small Cap | STOCKHOLM |
Skel fjárfestingafélag hf. | Small Cap | Mid Cap | ICELAND |
Iceland Seafood International hf. | Mid Cap | Small Cap | ICELAND |
HKScan Oyj A | Mid Cap | Small Cap | HELSINKI |
Terveystalo Plc | Large Cap | Mid Cap | HELSINKI |
Verkkokauppa.com Oyj | Mid Cap | Small Cap | HELSINKI |
Aquaporin A/S | Mid Cap | Small Cap | COPENHAGEN |
Boozt AB | Large Cap | Mid Cap | COPENHAGEN |
Columbus A/S | Mid Cap | Small Cap | COPENHAGEN |
Gabriel Holding A/S | Mid Cap | Small Cap | COPENHAGEN |
HusCompagniet A/S | Mid Cap | Small Cap | COPENHAGEN |
NTG Nordic Transport Group A/S | Large Cap | Mid Cap | COPENHAGEN |
SAS AB | Mid Cap | Small Cap | COPENHAGEN |
TCM Group A/S | Mid Cap | Small Cap | COPENHAGEN |
About the Market Cap Segments
Companies belong to a market cap segment (Small-, Mid- and Large Cap) based on their average market value during the given review month. Each segment is reviewed annually based on the average market cap in November with adjustments taking effect in January the following year. The market cap calculations are based on the total number of shares, i.e., both listed and non-listed shares, of a company. Companies with a market value exceeding EUR 1 billion are in the group of “Large Cap”, while companies with a market value between EUR 150 million and EUR 1 billion belong to the “Mid Cap” segment. Companies with a market value smaller than EUR 150 million belong to “Small Cap”.
12-month transitional period
Companies whose market cap has moved outside the reference values for their current classification are moved between segments according to the following rule: If their market cap is less than 50 percent of the minimum or more than 150 percent of the maximum threshold of their current segments they are transferred into a new segment with immediate effect. On the other hand, if their market cap is greater than 50 percent of the minimum or less than 150 percent of the maximum threshold of their current segment, they are subject to a transitional period and thus one more review before transferring into a new segment. Hence, based on the EUR 1 billion Large Cap and EUR 150 million Mid Cap thresholds, a Large Cap company whose market cap value has not fallen below EUR 500 million, and a Mid-cap company whose market cap value has not fallen below EUR 75 million, are subject to a second review before moving down to the new segment. Similarly, a Mid Cap company whose market cap value has not exceeded EUR 1.5 billion and a Small-cap company whose market cap value has not exceeded EUR 225 million, are subject to a second review before moving up to the new segment.
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