Stockholm Corporate Finance acted as financial advisor for Envar Holding’s IPO on Nasdaq First North Growth Market.

The listing included 2,500,000 shares at a price of SEK 20 per share.

The first trading day was December 17, 2024.

The company gained approximately 1,250 new shareholders.

Måns Flodberg, co-founder of the fintech company Modular Finance, subscribed for shares worth SEK 20 million as an anchor investor.

The listing was successful and oversubscribed.

About Envar Holding

Envar Holding is an outsourcing and development studio specializing in graphic design, 3D graphics, animations, and illustrations. The company primarily targets game development companies and players in the entertainment industry.

By offering specialized services, Envar Holding has established itself as a leading player in Northern Europe.

Investment Highlights

🔹 Unique investment opportunity in game development
A unique and profitable "platform" in the game development industry, offering an attractive value proposition for investors ahead of its IPO on Nasdaq First North.

🔹 Stable and scalable business model
Two complementary business models provide robust underlying profitability with low risk, combined with "hedged" high growth and profit potential.

🔹 Strong customer relationships and industry leaders
Long-term and strong relationships with market-leading customers such as Riot Games, Blizzard, Sony, and Netflix.

🔹 Efficient and experienced game development
Fully funded, top-tier, and cost-effective game development with experience from some of the most successful games ever created.

🔹 Project Hercules – The next big open-world title
Project Hercules: A brand-new IP in the open-world survival genre, set to launch in early access during H1 2026.