24Storage AB: Most Promising Value Creation IPO Nordics 2020
24Storage AB CEO: Fredrik Sandelin
With the growth of global populations and urban clusters, storage space has become a dwindling resource. Swedish company 24Storage hopes to solve that challenge by digitalising the sector in the country. 24Storage was founded in 2015 and went from inception to IPO in under four years. The company was listed on the Nasdaq First North Growth Market at the end of 2019, with ABG Sundal Collier ASA acting as liquidity guarantor and Arctic Securities as the sole global coordinator and bookrunner. It attracted such interest from institutional investors that there was heavy oversubscription. The investment community seeks opportunities with high-growth potential, and 24Storage has demonstrated an aptitude for value creation and expansion. The company is responsible for more than 53,000 square meters of rentable real estate – and more than 6,000 customers have signed-up for its automated solutions. As the name implies, 24Storage offers a convenient, around-the-clock solution for individual and business clients. The 10,000 climate-controlled facilities are spread across 23 centres, and can be accessed, by key, at clients’ convenience. The CFI.co judging panel believes in 24Storage’s promising business model and applauds a growth strategy with long-term vision. Early indications — an increase of up to 25 percent in net sales and gross profit margins — show this faith is not misplaced. The judges recognise a rising industry leader, and present 24Storage with the 2020 award for Most Promising Value Creation IPO (Nordics).
