NGM Hits Record Listings with Defense Sector Leading Growth in 2025

The Nordic Growth Market (NGM) has reached an all-time high with 40 new company listings over the past two years, marking a significant milestone in Sweden’s capital markets. Among the most notable recent additions is Astor, a defense company that gained wide attention after its public listing on NGM's regulated market in 2025. This surge of interest, especially from the defense industry, reflects an expansion phase characterized by increased capital needs and the pursuit of greater market visibility.

Carl-Henrik Nordberg, head of listings at NGM, highlighted the vital role of collaboration between capital markets and defense companies during uncertain times. He stated that public listings provide these firms with access to essential expansion capital, crucial for enhancing defense capabilities. Nordberg expressed optimism about NGM's future, noting the exchange’s capture of approximately 40% of all SME listings in Sweden in 2025 and a promising pipeline for 2026.

Astor’s CEO, Mattias Hjorth, praised NGM's supportive environment that fosters growth and maturation in the capital market. The company’s listing was celebrated with a public ceremony at Stureplan, symbolizing the defense sector's rising prominence on the exchange. As one of the leading Nordic platforms, NGM hosts over 50,000 financial instruments and is part of the Boerse Stuttgart Group, positioning itself as a strategic partner for companies seeking capital market exposure and growth opportunities.