Sweden’s junior market became Europe’s hottest market to raise funds for growth companies in the first half of the year as retail investors took advantage of favourable tax policies to snap up the index’s tech and healthcare stocks.
Companies on Nasdaq’s First North Growth Market, based in Stockholm, have raised £1.6bn to date this year, compared to £1.5bn on London’s Alternative Investment Market, the traditional market leader, according to Refinitiv data.
Retail investors’ participation on global equity markets has slowed this year as the war in Ukraine, a global economic slowdown and rising energy and food costs dampen investors’ appetite for taking punts on the small and often lossmaking companies.