July 6, 2017 - 3:19 PM EDT
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Cimco Marine Now Listed for Trading on Nasdaq First North

STOCKHOLM, July 6, 2017 /PRNewswire/ -- Following Cimco Marine AB's heavily over subscribed new issue of shares, the company is now listed on Nasdaq First North. The first day of trading was 4 July 2017 and the stock price was up approximately 23 percent at market close compared to the price in the share issue.

Cimco Marine has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high power segment. OXE Diesel has a unique belt driven propulsion system that allows a hydraulic multi-friction gearbox to be mounted. This means that the engine can handle significantly higher loads than a traditional outboard engine. Cimco's OXE diesel has a horizontally mounted engine as opposed to a traditional outboard with a vertically mounted engine.

The capital raised through the new issue of shares amounts to approximately SEK 35.1 million (approximately EUR 3.6 million), that will be used primarily for ramping up production to meet the high demand for the OXE Diesel.

For further information contact:

Andreas Blomdahl, chairman of the board Cimco Marine AB, tfn +46 706 28 01 30, [email protected]

Mats Säterberg, Lindahl Lawfirm and member of the board Cimco Marine AB, tfn +46 0702 797394,

Lars Sjögrell, Press dept, Cimco Marine AB, +46 702-69 53 00 [email protected]  

www.oxe-diesel.com

CONTACT:

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http://news.cision.com/cimco-marine/r/cimco-marine-now-listed-for-trading-on-nasdaq-first-north,c2303863

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SOURCE Cimco Marine

 


Source: PR Newswire (July 6, 2017 - 3:19 PM EDT)

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