Wasn’t trading supposed to start on this today? It doesn’t seem to be possible on Nordnet yet, at least 
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Due to the supplement to the listing prospectus, the subscription period only ends today.
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Trading is expected to begin on the pre-list on June 23rd and on Nasdaq on June 25th.
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The Barron’s article also mentions the listing of Savox. Additionally, they are speculating whether ICEYE will go public. The story is behind a paywall, but the tone is positive.
It’s nice to see that Nordic IPOs are also receiving international attention.
https://www.barrons.com/articles/europe-defense-ipo-military-2539c905
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And here we go 
Savox Communications Plc’s initial public offering and share sale have been oversubscribed several times and will be carried out as planned
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Let’s add the allocation details, as that’s always of interest.
Retail investors will all receive at least 50 shares. For any amount exceeding this, the allocation is 12% of the subscription quantity. The subscription price per share was 10.72 euros. So we are talking about a fairly small amount of shares, but of course, more can be bought from the stock exchange tomorrow under the ticker SAVOX.
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It will be interesting to see the shareholder list / largest shareholders once the listing is eventually published on the company’s website after the IPO. Currently, in the institutional investor category, the anchor investors took the pre-announced €26 million worth of shares, leaving €29 million for other institutional investors. From these, the company selects the most suitable ones and allocates shares considering each investor’s requirements/wishes, and often smaller players in the institutional category end up with zero.
On the retail side, calculated from the press release, subscriptions were placed for approximately 1.861 million shares, while 233,208 shares were available, meaning it was oversubscribed by almost exactly 8x.
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Let’s put the shareholder list from June 23, 2026, here as a point of comparison. The traditional way to publish these is the current day’s situation plus x number of end-of-month situations from previous months. Therefore, this June 23, 2026, entry will likely disappear into history, and the first official report will be June 30, which will include institutional investors outside of the anchors.
According to the terms of the listing, institutional investors will receive their shares the day after tomorrow, June 25, 2026, against payment. I haven’t noticed before at what stage these are recorded as visible—possibly as early as the day after tomorrow, or at the latest in the June 30, 2026, report.
So, we have to wait a moment longer to see which institution found this appealing, or from another perspective, to whom they wanted to allocate the shares.
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I am participating in the offering with a mini-investment. I noted that the board of Savox includes O-P Salovaara, who led Revenio to prosperity. Furthermore, he is quite a large shareholder in the company. Back in the day, I personally followed and owned Revenio during its rise assisted by O-P, and he likely sees a new opportunity in Savox. This company has clear individual owners, whereas today the main owner of Revenio is a faceless foundation.
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Savox is an interesting company that I am only following for the time being. Could the thread title be changed, perhaps to: Savox - communication technology?
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As a follow-up, here are the top 30 now that the institutional holdings have been registered.
No major surprises. In addition to the anchor investors, Varma reached 3rd place (3.0%) and UB Asset Management reached 9th place (1.1%) in the top 30 list.
Outside the top 10 are Veritas, Nordea Life, Rettig Capital, Holdix Oy Ab, Fondita, Wihuri Foundation, Visio Asset Management, Investors House Funds, WIP Asset Management, Proprius Partners, Long Run Investments, Mandatum Life, Kirsi Maria Kelloniemi, Per Henrik Aure, and Teppo Henrik Parviainen.
Many of these (e.g., UB Asset Management, Nordea Life, WIP Asset Management, and Mandatum Life) are (private) investor holdings through funds, insurance wrappers, or investments by nominee-registered clients.
It’s nice to see that Varma, among others, jumped on board, but in general, there is nothing particularly eye-catching in the list.
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Via the company’s website to the Guardian article. If you scroll through the article, you can find photos of rescue personnel from Merseyside/West Midlands/Wales, i.e., with a UK background, involved in the rescue efforts for the earthquake in Venezuela. A capture from the article’s image. The death toll from the earthquakes seems to be around 2.5 thousand, which is a horrific situation, but at least the rescuers have high-quality equipment.
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