Hacksaw Gaming Launches IPO on Nasdaq Stockholm

IPO Marks Strategic Shift for Expanding iGaming Developer

Hacksaw Gaming has officially taken its first step into the public capital markets, launching an initial public offering (IPO) on Nasdaq Stockholm. The move highlights the company’s ambitions to scale and attract broader investor interest. Known for its B2B slot and instant win content, the firm is offering existing shares to enhance liquidity and visibility in the regulated iGaming space.

The public listing includes 43.48 million existing shares priced at SEK 77 each. If fully subscribed, the offering will raise SEK 3.35 billion (€305 million) and value Hacksaw Gaming at roughly SEK 22 billion (€2 billion). An overallotment option of an additional 6.52 million shares could raise that figure further and increase the total offering to 17.3% of company equity.

Strong Financials and Market Reach Drive Interest

Founded in 2018, Hacksaw Gaming has rapidly expanded across Europe and North America, entering markets like Italy, Finland, New Jersey, and Pennsylvania. The company’s 2024 revenues hit €137 million, more than doubling year-on-year. Its 84% EBIT margin underlines strong operational efficiency, which has drawn considerable interest from both institutional and retail investors.

Subscription for the IPO opened on June 17 and will close on June 24, targeting investors in Sweden, Norway, Denmark, and Finland. Shares will begin trading on June 25 under the ticker “HACK.”

Strategic Implications of the Public Listing

This IPO is structured around existing shares, so the capital raised goes to current shareholders. However, the listing lays groundwork for future fundraising and improved strategic positioning. According to CEO Christoffer Källberg, the strong investor response reflects confidence in Hacksaw Gaming’s scalable platform and growth potential.

Becoming a public company also introduces greater scrutiny and regulatory responsibilities. As Hacksaw Gaming enters this new phase, it will face increased transparency and shareholder engagement requirements—key shifts for a business previously operated under private ownership.

The move comes amid a broader trend of digital content providers tapping into Nasdaq Stockholm, a hub for tech-focused listings. Public visibility may support Hacksaw Gaming in securing new partnerships, licenses, and regulatory approvals, essential for global growth.