2025 – A Five-Year Retrospective

As we approach the end of 2025, it feels meaningful not only to summarize the year that has passed, but also to zoom out and gain an overview of the five years since the founding of Nordic Issuing. It is impossible not to feel a deep sense of gratitude for the development we have seen – gratitude for the trust of our clients and partners, for our skilled and dedicated employees, and for the steps we have taken toward a clear goal: to become the leading issuing agent in the Nordic region. All of this despite a turbulent period marked by the COVID-19 pandemic, Russia’s invasion of Ukraine, and volatile years in the stock market.

The story of Nordic Issuing began in 2020 as a brand within Spotlight Group, with 65 assignments during our first year of operations. That same year, we also became a clearing member of Euroclear Sweden AB, Sweden’s central securities depository, which enabled a broader range of transactions, such as quota value issues and settlement within Euroclear’s VPC system. In addition, we became a member of VP Securities A/S in Denmark – the Danish equivalent of Euroclear Sweden AB – allowing us to support Danish companies in an entirely new way.

A Fully Independent Company

To continue developing our operations and take the next step as an independent player in the financial market, we soon moved into our own premises at Stortorget 3 in Malmö. At the beginning of 2021, we were registered as a standalone company. This was followed by an IPO-intensive and highly developmental year, during which our operations nearly quadrupled to a total of 250 completed assignments. At the same time, significant investments were made in IT to ensure secure and efficient delivery – and to create a strong foundation for future development.

Regulatory Licenses, Key Services, and a Clear Market Profile

At the start of 2022, the company’s journey truly gained momentum when we received our licenses from the Swedish Financial Supervisory Authority (Finansinspektionen), an important milestone for us as an independent securities firm. Over the following two years, two core services were launched: Nordic Issuing Academy – a training program focused on issuance-related expertise – and a custodian banking service for depository receipts, enabling the listing of foreign companies on a Swedish marketplace.

We also took on a more clearly defined market position. During the spring and autumn of 2023, we hosted two well-attended events aimed at promoting dialogue around the execution of secure issuances in a turbulent market environment.

Strong Development

The business continued to be characterized by strong growth, both in revenue and in the number of employees, services, assignments, clients, and partners. By the end of 2023, the figures spoke for themselves: 270 completed assignments, including 12 new clients listed on Nasdaq’s main market – a significant milestone in our development. Throughout 2024, we had the opportunity to work with additional new main market clients, which truly felt like recognition of our expertise and our commitment to high quality. During this period, we were also privileged to acquire AktieInvest’s issuance services division, further strengthening our market position.

A New Integrated Whole

The year 2025 followed as a period of organizational development, during which we were grateful to grow both commercially and as an organization. Through the acquisition of AktieInvest, we welcomed new colleagues and formed a new integrated organization with offices in both Malmö and Stockholm, united by a shared culture. This integration exceeded expectations. Together, we have created greater stability, improved ways of working, and a stronger foundation for the future.

In addition, employee development has taken clear steps forward. New team structures have found their rhythm, expertise has broadened, and insights for the next level of growth have emerged organically.

Refinement and Preparation

On the operational side, we have continued to develop our processes and technology to be well prepared for more intensive periods and continued growth when market conditions allow. While the IPO year was weaker than expected, we are all the more grateful for the assignments we were entrusted to participate in – a total of 280 transactions. At the same time, we have strengthened our role as a natural and integral part of the Swedish issuance market.

A Rewarding Year

Summarizing a year often comes down to numbers. For 2025, we instead choose to frame the year through insights: progress made behind the scenes, an organization that has matured, and the joy of growing on multiple levels. The dedication and commitment of our colleagues have carried the year and will continue to carry us forward.

Once again, we would like to extend our sincere thanks to our clients and partners for your trust and for making it possible for us at Nordic Issuing to grow through new and exciting assignments and transactions.

With that, we leave a meaningful and educational year behind us and turn our gaze toward 2026.

Merry Christmas and a Happy New Year!

Warm regards,
Christopher Åkerblom and the team at Nordic Issuing