The reason is serious violations of regulations.
"Given the company's historical actions, the decision was expected. Since the extraordinary general meeting in February, the new board has tried to arrange meetings with Nasdaq to discuss a way forward, which have been declined," says Fredrik Olsson, chairman of the board of Intellego, in a press release.
The decision affects thousands of owners. At Avanza alone, there are 13,600 customers who hold shares with a combined value of SEK 515 million, based on the price when the share was halted in November, according to figures from the online broker.
The company's stock was listed on Nasdaq's First North Growth Market.
