Sting Free AB has concluded it's latest ownership dispersion which resulted in a significant oversubscription of shares. In total the company raised almost 5.9 million SEK with the largest investor being Eriks Selin Fastigheter AB with an investment of 5 million.
Erik Selin has thus become the second largest shareholder in the company, which is now valued at just under SEK 31.6 million.
Sting Free AB has developed and patented a new and improved pouch, for modern oral nicotine pouches and snus, where one side has an integrated protective shield for the gums. The shield effectively reduces the burning sensation and gum irritation that is normally caused by these products.
This is the third time Erik Selin has invested in companies in the snus industry. He is already the largest Swedish shareholder in the snus giant Swedish Match and is also a major shareholder in Haypp Group, which is the largest e-trader of snus and modern oral nicotine pouches in Europe.
The entirety of the board and several of the current shareholders, from the first ownership dispersion, also chose to invest in this latest ownership disperssion.