Nasdaq welcomes Bercman Technologies to First North Market

Ellex in Estonia serves as the certified adviser for Bercman Technologies on First North market.

Nasdaq (NDAQ) announces that the shares of Bercman Technologies, an Estonian company increasing road safety, have been admitted to trading on Nasdaq Baltic First North Market by Nasdaq Tallinn as of today, July 6.

The admittance to trading of Bercman Technologies shares follows the initial public offering of the company. The total demand for the shares was EUR 9.85 million and the offering was 14.5 times oversubscribed. 4110 investors participated in the offering.

“Being backed by more than 4000 investors during their IPO, Bercman Technologies shows that a small company can do big things by being passionate about their work and persistent to keep chasing their goals,” said Kaarel Ots, CEO of Nasdaq Tallinn. “I’m sure all the investors in the Baltics and beyond are thrilled to see a new technology company being listed on the Baltic market.”

“Bercman has done a lot of development work, pilot projects and first sales for more than 4 years by now. We have just started exporting and therefore need capital for expanding. Bercman’s main partners are in the European countries, and as a company now listed on Nasdaq, we are strong and reliable partners in B2B sales,” said Mart Suurkask, founder and CEO of Bercman Technologies. “We also wanted to provide shareholders the opportunity to be part of our growth story at an early stage.”

Bercman Technologies was advised by Ellex Partner Gerli Kivisoo and Associate Georg Kuusik.

Bercman Technologies is a deep-tech company founded in 2016 and primarily engaged in the development and sale of products and services for increasing road safety. The company’s core competency lies in high value-adding and continuously improved software and expertise in the field. In addition to developing software, Bercman also engages in in-house hardware development, but relies on contractual partners for manufacturing operations.