NASDAQ OMX (NASDAQ:NDAQ) announced that Tethys Oil AB (TETY), a Mid Cap company within the Oil & Gas sector, today starts trading of its shares on the main market of NASDAQ OMX Stockholm. Tethys Oil was previously listed on First North and is the second company to list on NASDAQ OMX Nordic’s main market this year. Tethys Oil is the 28th company to move its listing from First North to the NASDAQ OMX main market.
Tethys Oil is a Swedish energy company focused on exploration and production of oil and natural gas. The core area is Oman, where the company is one of the largest onshore oil and gas concession-holder. Tethys’ strategy is to invest in projects in areas with known oil and natural gas discoveries that have not been properly appraised using modern technology. In this way, high returns can be achieved with limited risk.
“After nine good years at First North we are excited to make the move to the mid cap segment at NASDAQ OMX’s main market,” said Magnus Nordin, CEO of Tethys Oil. “We are convinced that it is the right trading platform for Tethys in order to support continued growth of our business through the increased investor exposure that we will gain on the main market.”
“Tethys will make a valuable addition to our main market and our Oil & Gas segment where they join several leading industry players,” said Adam Kostyál, Senior Vice President at NASDAQ OMX. “It is very rewarding to see yet another company that makes the journey from First North to the main market, proving that our Nordic listing model works.”