MIPS advances to Nasdaq Stockholms Mid Cap segment.
MIPS advances to the Mid Cap segment after Nasdaq Stockholm's yearly review of listed companies' market value. The move will be effected as of 2 January 2019.
Nasdaq Stockholm's yearly review is based on the average market value in November. This year's review resulted in a decision to move MIPS from the Small Cap to Mid Cap segment.
MIPS was listed at Nasdaq Stockholm in the Small Cap segment on 23 March 2017.
"The move to the Mid Cap list is proof the stock market appreciates MIPS being a fast-growing company with a clear market position, that attract great interest from brands and end-consumers," says Johan Thiel, CEO of MIPS AB. "We have had an exciting 2018 where we launched additional solutions, more customers have realized the value of integrating MIPS solutions into their products, we have grown in all categories and have been strengthened from two legal patent disputes. MIPS is well in progress of our target 2020 to reach 400 MSEK in revenue and an EBIT margin exceeding 40%. "
FOR FURTHER INFORMATION, PLEASE CONTACT:
JOHAN THIEL, PRESIDENT AND CEO
tel +46 73 399 65 88
MAX STRANDWITZ, CFO
tel +46 70 961 17 54
MIPS is a world-leader in helmet-based safety and the protection of the human brain. Based on an ingredient brand business-model, MIPS Brain Protection System (BPS) is sold to the global helmet industry. The BPS solution, which is patented in all relevant markets, is based on 20 years of research and development together with the Royal Institute of Technology and the Karolinska Institute, both located in Stockholm, Sweden.
MIPS headquarter with 26 employees engaged in research and development, sales, marketing and administration is in Stockholm, where its product and technology test facility also is located. The MIPS share has been listed on Nasdaq Stockholm since March 2017. For more information, see www.mipscorp.com