Last Thursday, Klappir Green Solutions (KGS) was listed on Nasdaq’s First North market. After two trades, the company’s B-shares were priced at 14.5 ISK per share, valuing the total available B-shares at roughly 960 million ISK, ~$8.8m. The company also has A-shares outstanding that are not listed. The main difference between the shares is that B-shares don’t have any voting or pre-emption rights.

KGS provides “consulting and software solutions to facilitate sustainability and responsible environmental operations.” Last year the company acquired two other companies: DataDrive and Ark Technology and added their offerings to KGS’s mix of products. According to their annual report for 2016, the company is currently working on merging the operations of the companies.

DataDrive participated in Startup Reykjavik 2015 and later received an undisclosed amount of funding from Klappir. Ark Technology received investment from Brunnur in 2015, but was then acquired by Klappir a little over a year later.

The listing didn’t include any additional share offerings.

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