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NEW YORK – Swedish textile recycling company, Renewcell, has achieved a market capitalisation of US$1bn less than two months since its Initial Public Offering (IPO) on the Nasdaq. The Nasdaq Stock Market, also known as Nasdaq, is ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange.

The initial offering price in Renewcell shares when the business floated in November when was SEK 76 (US$9.25) per share, corresponding to a total value of the company’s outstanding shares of approximately SEK 1,541 million before the offering and approximately SEK 2,341 million after the offering.

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