Swedish software company Fortnox said Wednesday it has applied to delist its shares from the Nasdaq Stockholm exchange following a takeover by a consortium led by private equity firm EQT.
The move was requested by the bidder, Omega II AB, which now controls approximately 97.3% of Fortnox's shares and has initiated a compulsory redemption process for the remaining stock, according to the company.
Omega II represents EQT X and First Kraft AB, whose public offer for Fortnox was announced on March 31 and declared unconditional on June 12.
As a result of the expected delisting, Fortnox's board has also decided to cancel the publication of its interim report for the period from March to June 2025.
The company said it will announce the last day of trading as soon as the date is confirmed by Nasdaq Stockholm.
The delisting application comes just hours after a new board was installed at an extraordinary general meeting, cementing the new ownership.
The public offer valued Fortnox at 54.9 billion Swedish kronor.
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