Extension of the share issuing process
During the summer, we chose to extend the subscription period for our ongoing issue until September 31. In the press release that went out, it says September 1, so this date is not correct. The reason for the extension of the issue is that we are currently in final negotiations and in the DD process with a total of three companies that we intend to acquire. By extending the issue, we can acquire these companies within the framework of the existing issue decision. If you are interested in investing in our issue, please contact us.
E-commerce platform Karuu now compatible for more languages
During the summer, the Karuu e-commerce platform was launched in both Chinese and English. A large part of our target group is active in the Asian market, therefore it was absolutely necessary to also launch Karuu in Chinese. If you are interested in visiting the Chinese version, you can visit karuu.store. Right now there are around 100 products for sale. As we connect with more partners in health and sustainability, we will also expand the platform with new consumer products.
Work with international partners
During the summer, THiS advanced forward via existing international partners. Together, we have secured a supply chain, completely independent of third parties. The result is valuable from several aspects, for example it has never been easier for customers and clients to come into direct contact with producers of plant-based raw materials.
Expansive investment in Sureka®
During the late spring and summer, we strengthened our cooperation with the Swedish Surfing Association and with the Swedish Table Tennis Association. We want Sureka to be associated with sports and have found both of these parties very important for our upcoming venture. During the last week, Sweden won European Championship in table tennis and Sureka then got a lot of visibility in the media. We will put even more power on Sureka during the autumn. Sureka is a brand that we believe in very much and a brand that has received positive feedback from consumers. Stay tuned during the fall because there will be fun news about Sureka!
Strengthened board ahead of listing
During June, we also strengthened the board, which means that we now have a very stable basis for the upcoming listing. The board consists of enormous competence that will be important for our future growth and IPO journey. The IPO plans are also proceeding according to plan. We are currently in dialogue with mentors and partners about various options. Either the listing will take place through a direct listing or alternatively as a merger / reverse acquisition. You will receive more information about this later, but as the plan looks right now, we will be listed this fall.
Profitable growth and interesting acquisitions during the autumn
In addition to the planned IPO, which according to the plan is to take place in the autumn, great focus will be placed on strengthening the market position of the existing companies, both in Sweden and abroad. The primary focus will be on increasing the brands' visibility together with increased efforts that favor sales of the companies' products. The main purpose of the applied strategy is to naturally achieve a profitable expansion for all the participating companies.
Up until today, we have identified a number of interesting acquisition targets in various business areas. The companies are active in, among other things, cosmetics, IT, marketing and production. We continuously probe the market to increase the possibility of finding hidden gems that we can strategically acquire and integrate into the group. In a longer perspective, we intend to list companies we acquire in Sweden, Bulgaria and Hong Kong on their local market. The aim is thus to offer entrepreneurs the opportunity to influence their growth to the greatest extent possible. In addition to this, a local listing also contributes to psychological security, which we believe is valuable.
Until you hear from me again, I wish you a fantastic start to the fall!
Ali Farmandeh,
President and CEO, THiS Less-is-more Group AB (publ)
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