SEK 3.48 Billion Offering Aims to Boost Growth and Market Expansion
Hacksaw Gaming, one of the iGaming industry’s fast-rising content developers, has confirmed its plans to launch an initial public offering (IPO) on the Nasdaq Stockholm. Set to go live on 25 June 2025, the IPO will make 15% of the company’s shares available to the public, equating to 43.5 million existing shares and an estimated valuation of SEK 3.48 billion (USD $350 million).
The decision to go public marks a pivotal moment in Hacksaw Gaming’s corporate trajectory, positioning the Malta-based developer to scale operations, attract institutional investment, and deepen its presence in regulated European markets.
Potential to Expand to 17.3% Ownership
The IPO includes an over-allotment option that, if fully exercised, would permit the sale of an additional 6.5 million shares. This would increase the total offering to 50 million shares, representing 17.3% of the company and pushing the valuation to SEK 3.85 billion. The share price has been set at SEK 77, giving the company an overall valuation of SEK 22 billion at launch.
This public listing will be limited to residents of Sweden, Denmark, Finland, and Norway, aligning with Hacksaw’s strategic focus on the Nordic region—one of the most tightly regulated but lucrative gambling markets in Europe.
IPO Follows Regulatory Hurdle and Market Growth
This IPO announcement comes just two months after Hacksaw paid a SEK 20,000 fine following a regulatory violation involving unauthorised use of its gaming content by two unlicensed operators. While minor, the incident underscores the need for stronger compliance frameworks as the company expands its footprint in regulated territories.
Notably, Hacksaw entered Denmark’s regulated market in December 2024, receiving official licensing approval and significantly strengthening its Nordic credentials.
Strategic Partnerships Fuel Investor Interest
Hacksaw’s move toward public trading also follows several high-profile commercial deals, including a content distribution agreement with Sky Betting and Gaming during Q4 2024. This partnership brought a variety of Hacksaw’s signature titles—known for their mobile-first, minimalist game design and high volatility—onto a major UK operator’s platform.
These strategic alignments underscore Hacksaw’s ambition to transition from an innovative challenger to a dominant content supplier across Europe and beyond.
Conclusion: IPO as a Launchpad for Global Growth
Hacksaw Gaming’s IPO is more than a financial event—it represents a strategic inflection point. By leveraging the capital markets, the company is signaling its intention to compete with legacy suppliers in the iGaming sector while continuing to build out its portfolio and global distribution channels.
If successful, the listing will not only validate Hacksaw’s commercial model but also serve as a bellwether for other mid-sized gaming suppliers contemplating similar public debuts amid rising investor appetite in the digital gambling space.
