Stockholm, July 29, 2016 — Nasdaq (Nasdaq: NDAQ) announces that the oil exploration and production company Maha Energy AB commenced trading today on Nasdaq First North in Stockholm. Maha Energy AB belongs in the oil and gas sector and is the 51st company to be admitted to trading on Nasdaq’s Nordic markets* in 2016.
Maha Energy AB has producing assets in United States and Canada. It was founded on the basis of growth through acquisition of declining and underperforming assets, where the company’s core asset of petroleum engineering Enhanced Oil Recovery (EOR) technologies can be applied. The company's core strategy is to add value in its operations through application of petroleum engineering technologies. For more information, please visit www.mahaenergy.ca .
“We have spent the first three years of the Company building a tremendous asset base in North America and with our pending Brazil acquisition we are well positioned to take advantage of the last two years of low oil prices and their expected recovery. Our listing on First North is the next major step in the process of building another substantial Swedish international E&P company. We are excited to call Nasdaq First North our home”, said Jonas Lindvall, CEO of Maha Energy AB.
“We welcome Maha Energy to Nasdaq First North”, said Adam Kostyál, senior vice president and head of European listings at Nasdaq. “We look forward to supporting Maha Energy on their journey as a publicly traded company”.
Maha Energy AB has appointed FNCA Sweden AB as the Certified Adviser.
*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm.
About Nasdaq First North
Nasdaq First North is regulated as a multilateral trading facility, operated by the different exchanges within Nasdaq Nordic (Nasdaq First North Denmark is regulated as an alternative marketplace). It does not have the legal status as an EU-regulated market. Companies at Nasdaq First North are subject to the rules of Nasdaq First North and not the legal requirements for admission to trading on a regulated market. The risk in such an investment may be higher than on the main market.
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