STOCKHOLM -- PCB brokerage firm NCAB Group went public today with an offering on the Nasdaq Stockholm Exchange.

The firm will use the IPO to support its future growth and operational strategy, among other things, through improved access to the capital markets as well as a diversified owner base of new Swedish and international shareholders.

Nasdaq Stockholm has approved the company’s application for listing, subject to customary conditions.

About 12.5 million shares were issued and the company raised more than SEK 940 million ($108 million) in the sale.

“Being listed is a logical step for us now that we have reached sufficient size, profitability and maturity. I am proud of the team at NCAB who has developed the company to a leading business with global reach. The listing is a quality mark which will enable us to attract more and larger customers and make additional acquisitions,” explains NCAB Group CEO Hans Stahl.

"It has been great to be part of the growth and development of NCAB since 2007 and to work with the management team and many highly competent employees," said Christian Salamon, chairman, NCAB Group. "There is a culture of technical specialization, teamwork and dedication to customers. I am particularly proud of the high ratings NCAB has in the eyes of its customers as well as from its employees. I also believe the work NCAB is doing in sustainability is an important part of its success.”

NCAB is one of the largest PCB distributors worldwide, with operations in 15 countries and sales in 45 countries. In 2017 NCAB totaled revenue of $162 million (SEK 1.4 billion) and adjusted EBITA of $13 million. It had 1,650 customers in 2017, for which it produced 113 million PCBs.

Listen to Hans Stahl's interview on the PCB Chat podcast.

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