Tamturbo Plc (“Tamturbo” or “the Company”) has today received an investment in the Company from a strategic industrial partner. A condition for the investment was that the Company does not list its shares as of now. Therefore, the Company has decided to withdraw its intital public offering (the “IPO”) and contemplated listing of its shares on Nasdaq Helsinki Oy’s First North Growth Market Finland marketplace.
Even if the IPO was oversubscribed by approximately 2,000 investors, the Company believes the investment from this industrial partner is strategically a better path forward at the moment.