Octave Intelligence plc entered trading on Nasdaq Stockholm through Swedish depository receipts tied to its class B ordinary shares. The distribution followed a decision approved at Hexagon’s Annual General Meeting on 24 April 2026 to transfer ownership of the wholly owned business to Hexagon shareholders. Eligible investors recorded on 22 May 2026 received one Octave class A share for every ten Hexagon Series A shares and one Octave class B share for every ten Series B shares.
🔑 Key Highlights
- Hexagon distributed Octave shares after 24 April meeting decision
- One Octave share issued per ten Hexagon shares held
- SDRs trade in Stockholm under ticker OCTV SDB
- Nasdaq New York trading expected to begin 28 May 2026
- SDR conversion starts through banks, brokers, or nominees
For non-affiliate owners of Hexagon Series B shares, the process moved through Swedish depository receipts issued by Skandinaviska Enskilda Banken AB (publ). Each receipt represents one underlying class B ordinary share in Octave and was deposited into Euroclear Sweden accounts. Trading in Stockholm uses the ticker symbol “OCTV SDB” and the ISIN code SE0028329433.
The company also outlined plans for U.S. market activity. Octave’s class B ordinary shares are scheduled to trade on Nasdaq New York under the ticker “OCTV,” alongside ISIN code IE0003YHD8K8 and CUSIP G22845 104. Regular-way trading for those shares is expected to begin on 28 May 2026, creating a separate route for market access beyond Stockholm-listed SDRs.
Holders of Swedish depository receipts may request cancellation of those receipts to obtain the related class B ordinary shares beginning 25 May 2026. The process moves through the Octave SDR program together with Euroclear Sweden and Depository Trust Company settlement systems. Banks, brokers, or nominees holding the SDRs must submit instructions to SEB before the underlying shares are delivered to a designated account.
Conversion will not carry a charge during the first six months beginning with the opening day of Octave SDR trading on Nasdaq Stockholm. After that period, a fee applies to the holder, broker, or nominee completing the process. Account-specific timing and handling depend on the financial intermediary responsible for transmitting instructions and settlement.
📊 What This Means (Our Analysis)
The structure outlined around Octave Intelligence creates multiple access points tied to the same underlying class B shares, while setting out a clear timetable for trading and conversion. That clarity matters because shareholders receive defined routes for holding, trading, or converting their positions without uncertainty around timing or settlement steps.
The six-month no-cost conversion period also signals an effort to simplify early participation after listing. By pairing Stockholm SDR trading with expected Nasdaq New York activity, the arrangement gives shareholders a practical framework for managing how those holdings are accessed and transferred.
📌 Our Take: The way shareholders respond to trading and conversion options will shape how Octave’s market presence develops across exchanges.