Here are the most important news items from the past week from the unlisted companies on Eqvor's platform. Stay up to date with developments in the unlisted market.
Blykalla — Industrial agreement with ESAB, a new VP, & last chance to take part in the trading window
Blykalla signed a Joint Development Agreement (JDA) with the welding supplier ESAB to industrialise proprietary materials for advanced nuclear power applications. Blykalla's patented aluminium-alloyed steels — which solve the historically biggest obstacle for lead-cooled reactors, namely corrosion — need to be manufactured on an industrial scale for the company to move from prototype to series production of the SEALER reactor. ESAB, one of the world's three largest welding companies, becomes the partner that will make that step possible.
The company also appointed Thérèse Burman as Vice President of Regulatory & Public Affairs. Burman, who was previously Head of Legal at Blykalla, has among other things been appointed as an expert in the government inquiry "Ny kärnkraft i Sverige — ett andra steg" (New nuclear power in Sweden — a second step).
We would also like to remind you that it will soon be the last chance to take part in the trading window if you want to trade Blykalla shares; the window closes next week on 13 March.
Northmill Bank — A record year and European recognition
Northmill Group published its year-end report for 2025, summing up the strongest year in the bank's 19-year history.
• Profit before tax (EBT): 224 MSEK (+56% vs full-year 2024)
• Operating income: 881 MSEK (+18% vs full-year 2024)
• Total loan portfolio: 5,561 MSEK (+30% vs full-year 2024)
• B2B loan portfolio: ~1 MDSEK (+357% vs full-year 2024)
• Return on equity: 18.5%
• Credit losses: 5.2% (down from 7.2% in Q4 2024)
• Bank card customers: 211,000 (+252% vs full-year 2024)
The B2B segment accounted for the most marked growth. The number of business customers reached 4,700 at the turn of the year, and transaction income in the segment rose by 88% in Q4. In B2C, lending grew faster than the market and the number of bank card customers passed 200,000.
In November the bank issued a Tier 2 bond of 100 MSEK. Northmill was also named one of Europe's fastest-growing companies in the Financial Times FT1000 2026 — one of 20 Swedish companies on the list and the second time the bank has received the recognition.
Snigel — Dividend and listing plans
The military equipment company Snigel paid out 30 MSEK in an extraordinary dividend to its owners following a resolution at an extraordinary general meeting. CEO Malin Hlawatsch also tells DI that she has been tasked by the principal owner Eequity with preparing the company for a stock market listing. At a time of sharply increased European defence spending, Snigel is positioning itself in a sector with a strong tailwind.
Airmee — Broadens its delivery network via ICA
Airmee has begun a collaboration with ICA Utlämning, making parcel pick-up available in more than 100 ICA stores. Home delivery, lockers and agents are brought together in one and the same network. Airmee joins a platform that already includes DSV, Bring, PostNord and DHL. ICA's system handles all carriers in the same IT solution, with parcel robots and smart lockers for automation. The collaboration follows ICA's decision to wind down ICA Paket and instead focus on the carrier-independent platform ICA Utlämning.
Voi — Thousands of new vehicles in Stockholm
Voi is making a big push in Stockholm ahead of the new season. It is rolling out 3,000 new Voiager 9 e-scooters with an updated design focused on comfort, control and more precise geofencing. The company has expanded its zone in Stockholm by 86% since 2023. Competitor Bolt is investing 100 MSEK, while Voi is investing up to a quarter of a billion.
Epidemic Sound — Desktop app and updated AI tool
Epidemic Sound launched a desktop app for Mac and Windows — a universal music assistant that sits next to any video editor. The app enables drag-and-drop of music, sound effects and voiceover directly onto the timeline, without file downloads or switching windows. The launch complements existing plugins for Adobe and DaVinci.
At the same time, the AI tool Adapt, launched in September 2025, was updated with improved prompt interpretation, stem toggling and individual adaptation history. The tool has now moved from the company's experimental environment Labs into the core product. In connection with the update, the company announced that bonus payments to artists will rise by 43% for 2026, and that the annual Soundtrack Bonus will increase from 3.7 to 4.2 MUSD.
Virtune — Rebalancing and an expanded index portfolio
Virtune carried out the monthly rebalancing for February 2026 of Crypto Top 10 Index ETP and Crypto Altcoin Index ETP, listed on Nasdaq Stockholm, Nasdaq Helsinki and Xetra. In addition, five new crypto assets were included in Virtune Coinbase 50 Index ETP in connection with the quarterly rebalancing, expanding the ETP to a total of 26 assets.
Eqvor — February top list
Eqvor published its monthly top list for the unlisted market. Kaunis Iron led the share price performance with +33.33%, followed by Northmill Bank with +12.50%. Blykalla was the most traded share by number of trades.
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