IPO

CTEK, the leading global supplier of premium low voltage battery chargers for vehicles and in 2020 one of the largest supplier in Sweden of electric vehicle supply equipment (“EVSE”) products, announces that it has launched an initial public offering of its shares, listing them on Nasdaq Stockholm. The offering consisted of both new shares issued by CTEK and of existing shares in the company offered by the shareholders.

The principal owner and the company believe that the offering and listing of the company’s shares on Nasdaq Stockholm is a logical and important step in CTEK’s development, which enables the company to expand its shareholder base and give CTEK access to the Swedish and international capital markets, which will support the company’s continued growth and development and increase awareness of CTEK and its operations in the capital market as well as in existing customers and other stakeholders.