STOCKHOLM, May 05, 2017 /PRNewswire/ -- The Board of Directors of Seamless Distribution AB has decided to initiate the process of listing its subsidiary, Seamless Distribution Systems AB (SDS) on NASDAQ's First North market. The decision has been taken on the basis of the mandate it was given by the AGM on April 20, 2017.
"The reason for the split is to reveal the hidden value in both companies and improve their ability to successfully achieve their long term goals," says CEO Peter Fredell.
The Board of Directors of Seamless Distribution AB is very optimistic about SDS and its future potential and therefore intends to remain as a minority shareholder. The listing of SDS will be carried out at a suitable time and one which corresponds with the listing process at First North.
ABG Sundal Collier and DNB Markets are appointed as Joint Global Coordinators in connection with the listing process.
Seamless is one of the world's largest suppliers of payment systems for mobile phones. Founded in 2001 and active in 35 countries, Seamless handles more than 5.3 billion transactions annually through 675 000 active sales outlets. Seamless has three main business areas including the transaction switch, the technology provider for the distribution of e-products and the mobile payment platform Seqr. www.seamless.se
For further information, please contact:
Head of Treasury & Investor Relations
This information is information that Seamless Distribution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 8.50 a.m. CET on May 5, 2017.
Seamless Distribution AB, Box 6234, 102 34 Stockholm | Visiting address: St Eriksgatan 121 D | Org. no: 556610-2660 Phone: 08-564 878 00 | Fax: 08-564 878 23 | www.seamless.se
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
SOURCE Seamless Distribution AB