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Tern down as investee Wyld Networks opens on Nasdaq First North

Fri, 02nd Jul 2021 11:36

(Alliance News) - Tern PLC said its portfolio company Wyld Networks was admitted for trading on the Nasdaq First North Growth Market in Stockholm on Friday.

The London-based investor in the 'internet of things' holds a 61% stake in Wyld Networks, which is comprised of Wyld Networks Ltd and Wyld Networks AB.

Tern first announced the move in early June.

Wyld Networks will be now traded on Nasdaq First North under the ticker 'Wyld'.

On Monday, investee Wyld Networks AB received SEK25 million - about GBP2.1 million - from its initial public offering in Stockholm.

Shares in Tern were trading down 8.0% at 25.30 pence each in London on Friday morning.

By Scarlett Butler; scarlettbutler@alliancenews.com

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