The recently completed rights issue to existing shareholders in Zoomability Int AB gave a total of approximately SEK 5.5 million. Now the aim is to carry out an IPO an during Q2, 2019 list the company on the NGM-MTF stock exchange in Stockholm.
The demand for Zoom Uphill has increased throughout 2018 and is expected to continue in 2019. This especially from the North American market, but also in our home market in Sweden and the rest of Europe. Right now the demand is greater than our production capacity, which is why more working capital is needed.
The money from the rights issue will primarily be used for repayment of loans and continued scaling up of production. Several important projects to further strengthen the company’s position in the marketplace are planned to be implemented during the second half of 2019.