This week's news from the unlisted shares on Eqvor: Sigrid Therapeutics reaches US healthcare providers through Fullscript, Novedo is back to organic growth, Dirac grows revenue but swings to a loss and Nordiska takes its AT1 bonds to Nasdaq Stockholm. Plus July's top list and a new episode of Vägen till Exit.
Sigrid Therapeutics — new channel to more than 125,000 US healthcare providers
Sigrid is launching two products on Fullscript — North America's leading platform for healthcare providers, which reaches more than 5 million patients a year. It is the company's first large-scale distribution channel to healthcare providers in the US. SiPore Capsules is a dietary supplement for everyday use, and SiPore Liquid a food for special medical purposes with the highest dose strength.
Both are based on the same patented technology, which acts locally in the gastrointestinal tract and binds the enzymes that break down carbohydrates and fat, without being absorbed into the blood. CEO Claus Kjærsgaard calls it an important milestone in the commercial US strategy. The launch comes shortly after the pivotal SHINE study was published in The Lancet's eClinicalMedicine.
Source: Sigrid Therapeutics press release, 5 August 2026.
Novedo — back to organic growth
Net sales rose 18.0 per cent in the second quarter and the group returned to organic growth after a long slump. The order backlog was considerably larger than a year earlier.
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Net sales | 894 MSEK | 758 MSEK | +18.0% |
| EBITA | 70 MSEK | 66 MSEK | +6.1% |
| EBITA margin | 7.8% | 8.8% | −1.0 pp |
| Operating cash flow | 10 MSEK | −30 MSEK | +40 MSEK |
The half-year was nevertheless weighed down by a hard winter that postponed project starts and hit the result by around 25 MSEK, as well as one-off write-downs of about 10 MSEK — the half-year margin fell to 4.5 per cent, from 6.5. After the quarter, Novedo is calling an extraordinary general meeting on directed issues of convertibles.
Source: Novedo's interim report January–June 2026.
Dirac Research — revenue up, result swings to a loss
Revenue was driven by Home Audio, which grew 41 per cent after the launch of the room correction product ART and a strong Black Friday. Automotive fell 4 per cent as a customer agreement was phased out in the third quarter.
| 2025 | 2024 | Change | |
|---|---|---|---|
| Net sales | 212.9 MSEK | 200.0 MSEK | +6% |
| Operating profit | −0.7 MSEK | 13.2 MSEK | −13.9 MSEK |
| Profit after tax | −13.6 MSEK | 8.7 MSEK | −22.3 MSEK |
| Cash and cash equivalents | 65.5 MSEK | 94.8 MSEK | −31% |
The result swung to a loss as costs rose faster than revenue — mainly staff costs following a higher number of employees (+19.0 MSEK) and a write-down of 3.4 MSEK linked to a discontinued development project. In November a reorganisation was carried out to shorten decision-making paths. The company expects continued good growth in 2026.
Source: Dirac Research AB, annual report and consolidated accounts for the 2025 financial year.
Nordiska — AT1 bonds on their way to Nasdaq Stockholm
The bank is taking its additional tier 1 capital instruments to the stock exchange. On 15 June 2026 Nordiska issued AT1 bonds of 200 MSEK with ISIN SE0029026111. The bonds are perpetual, with the first possible redemption on 15 June 2031 and a floating rate of 3-month STIBOR plus 625 basis points per year.
The prospectus was approved by the Swedish Financial Supervisory Authority (Finansinspektionen) on 31 July, and Nordiska has undertaken to apply for admission to trading on Nasdaq Stockholm. The first day of trading was stated as 31 July 2026.
Source: Bankaktiebolaget Nordiska (publ), press release 31 July 2026.
Virtune — the month's rebalancing of the altcoin index
Virtune has carried out the month's rebalancing of Virtune Crypto Altcoin Index ETP — the first of its kind in the Nordics. The weights were reset to 10 per cent each for ten altcoins, excluding Bitcoin and Ethereum, so that the exposure remains equally weighted. No assets were replaced in connection with the rebalancing. Performance in July: −3.78 per cent.
Source: Virtune press release, 3 August 2026.
Eqvor — most traded in July
Most traded
July 2026
The unlisted market · Monthly report · Change in July
1
Koenigsegg ↑ 17.6% 2
Sigrid ↓ 23.3% 3
Corpower 0.0% 4
Doktor.se ↑ 6.7% 5
Blykalla 0.0%
Koenigsegg takes a double first place in July: the most traded share and the biggest price rise. The biggest fall during the month: Sigrid, −23.3 per cent.
Source: Eqvor's trading data, July 2026.
Vägen till Exit — where do you park your money when the stock market is shaky?
Mikael Yman
Portfolio Manager, Alpcot
Has managed IKEA's global fixed income portfolio and been a Portfolio Manager at Alfred Berg.
When the stock market is shaky, most people know what they do not want to do. Fewer know what they should do. A conversation about risk, liquidity and where unlisted shares belong in the portfolio when the market is nervous. New episode every Tuesday.
Available on Spotify, Apple Podcasts and wherever you usually listen to podcasts.
Source: Eqvor.
