Review of Market Capitalization Segments at Nasdaq Nordic Exchanges
Stockholm/Helsinki/Copenhagen/Reykjavik, December 19, 2024 — Nasdaq (Nasdaq: NDAQ) announces the conclusion of its annual assessment of market capitalization (market cap) segments across the Nordic exchanges. This review is founded on the average market capitalization assessed in November 2024. In conjunction with indexes and sector classifications, this segmentation serves as a means to enhance visibility for companies listed on Nasdaq’s exchanges in Stockholm, Helsinki, Copenhagen, and Iceland.
Starting January 2, 2025, a total of 31 companies will be reassigned to different segments: 8 will move to a larger segment while 23 will be assigned to a smaller segment.
| Name | Current Segment | New Segment | Exchange |
| BONESUPPORT HOLDING AB | Mid Cap | Large Cap | STOCKHOLM |
| engcon AB ser. B | Mid Cap | Large Cap | STOCKHOLM |
| OEM International AB ser. B | Mid Cap | Large Cap | STOCKHOLM |
| Granges AB | Mid Cap | Large Cap | STOCKHOLM |
| Modern Times Group MTG AB ser. A | Large Cap | Mid Cap | STOCKHOLM |
| Dios AB | Large Cap | Mid Cap | STOCKHOLM |
| Ratos AB ser. A | Large Cap | Mid Cap | STOCKHOLM |
| Ratos AB ser. B | Large Cap | Mid Cap | STOCKHOLM |
| Creades AB ser. A | Large Cap | Mid Cap | STOCKHOLM |
| Arjo AB ser. B | Large Cap | Mid Cap | STOCKHOLM |
| Instalco AB | Large Cap | Mid Cap | STOCKHOLM |
| Samhällsbyggnadsb. i Norden AB B | Large Cap | Mid Cap | STOCKHOLM |
| Samhällsbyggnadsb. i Norden AB D | Large Cap | Mid Cap | STOCKHOLM |
| Intrum AB | Large Cap | Mid Cap | STOCKHOLM |
| CTEK AB | Mid Cap | Small Cap | STOCKHOLM |
| Mangold AB | Mid Cap | Small Cap | STOCKHOLM |
| Garo AB | Mid Cap | Small Cap | STOCKHOLM |
| G5 Entertainment AB | Mid Cap | Small Cap | STOCKHOLM |
| Catena Media | Mid Cap | Small Cap | STOCKHOLM |
| Brim hf. | Large Cap | Mid Cap | ICELAND |
| Revenio Group Corporation | Large Cap | Mid Cap | HELSINKI |
| Citycon Oyj | Large Cap | Mid Cap | HELSINKI |
| Sitowise Group Plc | Mid Cap | Small Cap | HELSINKI |
| Rapala VMC Corporation | Mid Cap | Small Cap | HELSINKI |
| Tecnotree Corporation | Mid Cap | Small Cap | HELSINKI |
| United Bankers Oyj | Small Cap | Mid Cap | HELSINKI |
| Skjern Bank | Small Cap | Mid Cap | DENMARK |
| Djurslands Bank | Small Cap | Mid Cap | DENMARK |
| PARKEN Sport & Entertainment | Small Cap | Mid Cap | DENMARK |
| Flügger group A/S B | Mid Cap | Small Cap | DENMARK |
| Gyldendal A | Mid Cap | Small Cap | DENMARK |
| Gyldendal B | Mid Cap | Small Cap | DENMARK |
| RTX A/S | Mid Cap | Small Cap | DENMARK |
| Green Hydrogen Systems A/S | Mid Cap | Small Cap | DENMARK |
Overview of Market Cap Segments
Companies are classified into market cap segments (Small, Mid, and Large Cap) according to their average market value during the review month. Each segment is subject to an annual assessment based on the average market capitalization in November, with changes becoming effective in January of the following year. Market cap calculations account for the total number of shares, including both listed and non-listed shares of a company. Companies exceeding EUR 1 billion in market value fall into the “Large Cap” category, while those with market values between EUR 150 million and EUR 1 billion are classified as “Mid Cap.” Companies valued below EUR 150 million are categorized as “Small Cap.”
12-Month Transitioning Period
Companies whose market cap falls outside the parameters for their current classification will be reassigned to different segments based on the following guidelines: If their market cap drops below 50 percent of the minimum threshold or exceeds 150 percent of the maximum threshold for their current segment, they will be immediately transferred to a new segment. Conversely, if their market cap is greater than 50 percent of the minimum or less than 150 percent of the maximum threshold, they will undergo a transitional period and a further review before being reassigned. Therefore, for the EUR 1 billion Large Cap and EUR 150 million Mid Cap benchmarks, a Large Cap company with a market cap not falling below EUR 500 million, and a Mid Cap company with a market cap not dropping below EUR 75 million, will be subject to a second analysis prior to reassignment to a new segment. Similarly, a Mid Cap company not exceeding EUR 1.5 billion and a Small Cap company not exceeding EUR 225 million will require a second review before advancing to a higher segment.
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Media Contact at Nasdaq
Maarit Bystedt
+358 9 6166 7274
[email protected]
