(Bloomberg) -- Cybersecurity firm Yubico AB plans to list on Nasdaq Inc.’s main Stockholm market early next month to make the firm more attractive to its largest clients.
The company, most famous for its physical hardware keys YubiKey, will change its listing from the lower-ranked First North Growth Market on Dec. 5, Chief Executive Officer Mattias Danielsson said in an interview. The shift strengthens its clout in dealing with customers including existing ones such as Microsoft Corp, Amazon.com Inc and Salesforce Inc, he said.
Yubico’s first listing last year was a big win for Nasdaq, whose Stockholm bourse has struggled to attract some of the Nordic country’s biggest tech companies. Music streaming giant Spotify Technology SA favored the New York market, something buy-now-pay-later unicorn Klarna Bank AB is also reported to do.
Graduating to the main market also allows Swedish companies to tap into a wider pool of capital markets, but Danielsson said the company has no such plans at the moment, and will continue to focus on growth elsewhere.
“We are only in the early stages of our growth journey and we have plenty to do on the product side,” he said.
The shift also included changing the company’s entire bookkeeping to bring it in line with IFRS international accounting standards.
The company was founded in 2007 by couple Stina and Jakob Ehrensvard.
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