Wednesday, October 17, 2018

Internet of Things Company, Seluxit, Prepares Listing on Nasdaq

Company Announcement                                                       Aalborg, 25 September 2018
Seluxit A/S
Short name “SLXIT”

INTENTION TO FLOAT ON NASDAQ FIRST NORTH COPENHAGEN
Seluxit A/S is planning an initial public offering on Nasdaq First North Copenhagen.

Internet of Things Company, Seluxit, Prepares Listing on Nasdaq
Internet of Things company, Seluxit A/S, is planning an initial public offering on Nasdaq First North Copenhagen to raise between 22 and 26 million DKK in new capital in November 2018.

Seluxit

Seluxit is an international company, established in 2006 in Aalborg by Daniel Lux and Morten Pagh Frederiksen, who are both still co-owners of the company.

  • Customers include big international companies with multibillion turnovers
  • Financial results have been positive each year since the company’s founding
  • Technological advantage has been created through a focused reinvestment
  • Workforce of 17 includes 10 nationalities, speaking 19 languages

“We have decided for an IPO, because we believe that a broader ownership and a larger capital base, will make Seluxit more robust in the eyes of our large customers.  From our perspective the IPO will be an important step in capturing a share of the growth, which we expect in the market for Internet of Things in the coming years, "said Daniel Lux, CEO of Seluxit.

 ”Our approach to Internet of Things is that it should be as simple as possible for our customers and partners to get started. At the same time, it should be flexible enough to easily allow for more advanced solutions to be added over time. We help our customers all the way from the physical product to a market-ready solution,” explains Daniel Lux, CEO.

Internet of Things

In a nutshell, the Internet of Things (IoT) is connecting physical products to the Internet. It could be a lawn mower, an electricity meter or an industrial robot – the sky’s the limit. The market for the Internet of Things is expected to experience a strong growth in the coming years, where more and more products will be connected to the Internet. Internet of Things technology makes it possible to more effectively utilize resources, improve security, and in addition products can be more easily controlled from a mobile telephone or a tablet. 

Seluxit is experiencing a great interest for Internet of Things solutions from existing and potential customers. They see the Internet of Things as a possibility for business development, as it gives an insight in the use of their products and thereby opens for data-driven product development and data-driven business models.

Growth Plan

It has been a long time coming, but the Internet of Things market is becoming mature. Now the increased demand for Internet of Things solutions is clear, both nationally and especially internationally. To fully benefit from these growing market opportunities, Seluxit’s plans for a focused expansion will require further capital.

The strategy for the next phase is to continue to build on Seluxit’s technological position and to intensify sales in Seluxit’s three main business verticals: Smart Meter, Smart Home and Smart Machine. Seluxit has many years of experience in these fields and they are the most obvious growth areas for the company.

For a number of years, there has been an increasing interest in Internet of Things solutions. This is influenced by political initiatives for Smart Meters, where the EU member states have committed to rolling out 200 million smart meters for electricity and 45 million for gas before 20201.

The proceeds from the IPO will contribute to further development of Seluxit’s technology, and focused sales efforts for domestic and foreign customers. Seluxit will intensify their sales activities and thereby follow their mission to continue to grow and become a central global player for Internet of Things solutions in the B2B market. 

”For us usability, scalability and low prices are keywords, that make our ambitions realistic,” explains Daniel Lux, CEO.

Nasdaq First North

Based on Seluxit’s scalable Internet of Things platform, good references and a growing Internet of Things market, Seluxit has decided that the time is right to undertake an IPO on Nasdaq First North Copenhagen. Among other reasons, Seluxit has chosen to do an IPO because a broader ownership and the transparency and responsibility, that notation entails, will make Seluxit a more attractive partner for large customers. 

Next Steps

Information about the IPO is planned to be made public to the market in October. The information will be made available at Seluxit’s homepage, www.seluxit.com/investors.

Seluxit’s CEO, Daniel Lux, is participating in a panel debate at the Tech BBQ conference the 25 September in Øksnehallen in Copenhagen.

Further information: CEO Daniel Lux.
www.seluxit.com / [email protected] / Tel. +45 31 70 76 90




1 http://ses.jrc.ec.europa.eu/smart-metering-deployment-european-union



Source: NASDAQ