CORRECTION: Review of Market Capitalization Segments at Nasdaq Nordic Exchanges
Stockholm/Helsinki/Copenhagen/Reykjavik, December 19, 2024 — Nasdaq (Nasdaq: NDAQ) announces the completion of its annual review of the Nordic market capitalization (market cap) segments. This update is based on the average market cap figures from November 2024. Along with indexes and sector classifications, market cap segmentation serves as a means to enhance visibility for companies listed on Nasdaq’s exchanges in Stockholm, Helsinki, Copenhagen, and Reykjavik.
In the earlier press release issued this morning, Modern Times Group MTG AB ser. B was inadvertently omitted from the list. Below is the corrected version.
Effective from January 2, 2025, the following 31 companies will change their segments: 8 will transition to a larger segment, while 23 will move 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 |
| Modern Times Group MTG AB ser. B | 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 | ICELAND |
| Djurslands Bank | Small Cap | Mid Cap | ICELAND |
| PARKEN Sport & Entertainment | Small Cap | Mid Cap | ICELAND |
| Flügger group A/S B | Mid Cap | Small Cap | ICELAND |
| Gyldendal A | Mid Cap | Small Cap | ICELAND |
| Gyldendal B | Mid Cap | Small Cap | ICELAND |
| RTX A/S | Mid Cap | Small Cap | ICELAND |
| Green Hydrogen Systems A/S | Mid Cap | Small Cap | ICELAND |
About the Market Cap Segments
Companies are categorized into market cap segments (Small-, Mid-, and Large Cap) based on their average market value during the designated review month. Each segment undergoes an annual review based on the average market cap in November, with changes taking effect in January of the following year. The market cap figures are derived from the total number of shares, including both listed and non-listed shares of a company. Companies with a market value exceeding €1 billion fall into the “Large Cap” category, while those with a market value between €150 million and €1 billion are classified as “Mid Cap.” Companies valued below €150 million are identified as “Small Cap.”
12-month Transitional Period
Companies that experience a market cap change outside the reference values for their current classification may be reassigned to a different segment according to the following criteria: If a company’s market cap is below 50% of the minimum threshold or above 150% of the maximum threshold of its current segment, it will be reassigned immediately to a new segment. Conversely, if its market cap is above 50% of the minimum or below 150% of the maximum threshold for its current segment, it will undergo a transitional period, subject to one additional review before being moved. Thus, a Large Cap company must not drop below €500 million, while a Mid Cap company must remain above €75 million for a second review before being reassigned downward. Similarly, a Mid Cap company must not exceed €1.5 billion, and a Small Cap company must stay below €225 million before moving upward.
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Media Contact for Nasdaq
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