Octave Intelligence Plc Listed on Nasdaq Stockholm

Rhea-AI Summary

Octave Intelligence (Nasdaq:OCTV) has been distributed to Hexagon shareholders and listed via Swedish depository receipts on Nasdaq Stockholm under “OCTV SDB”. Eligible Hexagon shareholders received one Octave share for every ten Hexagon shares of the corresponding class.

Octave class B ordinary shares are expected to begin regular-way trading on Nasdaq New York on 28 May 2026 under “OCTV”. SDR holders can convert to underlying shares, free of conversion fees for the first six months. Octave has selected Ireland as its Home Member State for transparency regulations.

AI-generated analysis. Not financial advice.

Positive

• Hexagon shareholders receive Octave shares at a 1-for-10 distribution ratio
• Octave SDRs listed on Nasdaq Stockholm under ticker “OCTV SDB”
• Octave class B shares expected to trade on Nasdaq New York from 28 May 2026
• SDR-to-share conversion free of charge for first six months

Negative

• SDR conversion will incur a holder-paid fee after initial six-month period

Key Figures

AGM date: April 24, 2026 Record date: May 22, 2026 A share ratio: 1 Octave class A for every 10 Hexagon Series A +5 more

8 metrics

AGM date April 24, 2026 Hexagon Annual General Meeting resolving Octave distribution

Record date May 22, 2026 Shareholder record date for Octave share distribution

A share ratio 1 Octave class A for every 10 Hexagon Series A Distribution ratio for Hexagon Series A shareholders

B share ratio 1 Octave class B for every 10 Hexagon Series B Distribution ratio for Hexagon Series B shareholders

First Nasdaq NY trading May 28, 2026 Expected first regular-way trading day for class B shares

Earliest SDR conversion May 25, 2026 Earliest date SDR holders may cancel for underlying shares

Free conversion period Six months SDR-to-share conversion free from first SDR trading day

Ticker and ISIN (SDRs) OCTV SDB / SE0028329433 Trading details for Octave SDRs on Nasdaq Stockholm

Market Reality Check

normal vol

Market Pulse Summary

This announcement outlines Octave’s separation from Hexagon and its listings via SDRs on Nasdaq Stoc...

Analysis

This announcement outlines Octave’s separation from Hexagon and its listings via SDRs on Nasdaq Stockholm and class B shares on Nasdaq New York. Key elements include a 1-for-10 distribution ratio for both Series A and B holders, a record date of May 22, 2026, and an expected first Nasdaq New York trading day on May 28, 2026. Investors may monitor how SDR conversions, cross-border settlement, and initial trading volumes develop as the standalone listing establishes its market profile.

Key Terms

swedish depository receipts, sdrs, euroclear sweden, depository trust company, +3 more

7 terms

swedish depository receipts financial

"SEB issuing Swedish depository receipts (“SDRs”). The SDRs each represent one underlying"

Swedish depository receipts are financial certificates issued by a bank that stand in for shares of a foreign company and trade on Swedish exchanges in local currency; think of them as a local ticket that represents ownership of an overseas stock held in a secure vault. They matter to investors because they make it easier to buy, sell and receive dividends from foreign companies under Swedish trading rules and currency, while sometimes changing how voting rights, custody and tax treatment apply.

sdrs financial

"issuing Swedish depository receipts (“SDRs”). The SDRs each represent one underlying class B"

Special Drawing Rights (SDRs) are an international reserve asset created by the IMF that act like a shared credit line for countries, giving them a pool of value they can exchange for widely accepted currencies when needed. Investors watch SDR allocations and usage because they influence global currency liquidity and sovereign borrowing stress; changes can affect exchange rates, bond yields and overall market stability much like a central bank stepping in to ease a cash crunch.

euroclear sweden technical

"SDRs each represent one underlying class B ordinary share in Octave and are deposited into shareholders’ Euroclear Sweden accounts."

A national electronic system that keeps the official records of who owns Swedish stocks and bonds and makes sure trades are completed and settled correctly. Think of it as a combination of a secure bank vault and a ledger that tracks ownership, processes transfers, handles dividend and interest payments, and reduces the chance of errors or missed deliveries. Investors rely on it for safe, reliable execution and record-keeping of their holdings.

depository trust company financial

"Conversion is effected through the Octave SDR program and the Euroclear Sweden and Depository Trust Company settlement systems"

A central securities depository that holds stocks, bonds and other securities in electronic form and handles the transfer and finalizing of trades between brokerages. For investors it acts like a secure electronic vault and central bookkeeping hub that speeds transactions, reduces the chance of lost or duplicated certificates, and determines whether holdings are eligible for trading, dividends and other corporate actions through your broker.

home member state regulatory

"Home Member StateOctave, an Irish company with registered office in Ireland, hereby announces"

The home member state is the country within a multi-country union where a regulated company is officially authorized and primarily supervised by local regulators. For investors, it matters because that state’s rules, oversight and legal protections determine how the company is allowed to operate and how disputes, disclosures and enforcement are handled—think of it as the company’s legal 'home base' that sets the ground rules investors rely on.

transparency directive (directive 2004/109/ec) regulatory

"for the purposes of the Transparency (Directive 2004/109/EC) Regulations 2007 of Ireland"

A European law that requires publicly traded companies and large shareholders to share regular, standardized information—like financial results, ownership stakes, and important changes—so the market can see what’s happening. It matters to investors because consistent, timely disclosure is like a store posting prices and inventory: it reduces surprises, helps people compare options, and supports fairer pricing and better risk decisions.

central bank (investment market conduct) rules 2019 regulatory

"Regulations 2007 of Ireland (as amended), the Central Bank (Investment Market Conduct) Rules 2019"

A set of rules issued by a central bank that spell out how participants in investment markets must behave, such as standards for fair dealing, disclosure, preventing insider trading and market manipulation, and how firms should supervise clients and staff. These rules matter to investors because they shape market honesty and transparency—like traffic laws for trading—reducing the chance of fraud, improving confidence, and influencing the cost and risk of investing.

AI-generated analysis. Not financial advice.

HUNTSVILLE, Alabama, May 25, 2026 (GLOBE NEWSWIRE) -- On April 24, 2026, the Annual General Meeting of Hexagon AB (“Hexagon”) resolved to distribute all shares in its wholly-owned subsidiary Octave Intelligence plc (“Octave”) to Hexagon’s shareholders. Shareholders of Hexagon as per the record date May 22, 2026 have received one class A ordinary share in Octave for every ten Series A shares held in Hexagon, and one class B ordinary share in Octave for every ten Series B shares held in Hexagon.

Non-affiliate holders of Series B shares in Hexagon have received class B ordinary shares in Octave by way of Skandinaviska Enskilda Banken AB (publ) (“SEB”) issuing Swedish depository receipts (“SDRs”). The SDRs each represent one underlying class B ordinary share in Octave and are deposited into shareholders’ Euroclear Sweden accounts.

Octave’s SDRs are traded on Nasdaq Stockholm under the ticker symbol “OCTV SDB” with the ISIN code SE0028329433.

Octave’s class B ordinary shares will be traded on the Nasdaq Stock Market in New York (“Nasdaq New York”) under the ticker symbol “OCTV” with the ISIN code IE0003YHD8K8 and the CUSIP G22845 104. The first day of regular-way trading in Octave’s class B ordinary shares on Nasdaq New York is expected to be May 28, 2026.

Holders of SDRs may cancel their SDRs to receive the underlying class B ordinary shares as early as May 25, 2026, in which case such holders would be expected to receive the underlying class B ordinary shares on May 28, 2026. Conversion is effected through the Octave SDR program and the Euroclear Sweden and Depository Trust Company settlement systems and must be initiated by the bank, broker or other nominee through which the applicable SDRs are held. The holder’s bank, broker or other nominee will be responsible for transmitting the relevant instructions to SEB, the SDR depositary. Following receipt of a valid conversion instruction, the relevant SDRs will be cancelled, and the corresponding class B ordinary shares will be delivered to the holder’s designated account. Such conversion will be free of charge during the initial six months from and including the first day of trading in Octave SDRs on Nasdaq Stockholm, and thereafter requires payment of a conversion fee by the holder or its nominee or broker. Holders should contact their bank, broker or other nominee for detailed instructions and timing applicable to their account.

Home Member State
Octave, an Irish company with registered office in Ireland, hereby announces that it has chosen Ireland as its Home Member State for the purposes of the Transparency (Directive 2004/109/EC) Regulations 2007 of Ireland (as amended), the Central Bank (Investment Market Conduct) Rules 2019 and the Transparency Directive (Directive 2004/109/EC).

Forward-Looking Statements:
This press release contains forward-looking statements. When used in this communication, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and “project” are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties, including risks relating to the recently completed separation from Hexagon, Octave’s operation as an independent public company, the commencement and continued trading of Octave securities, market conditions, technological advances, product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, foreign currency exchange rates and other risks and uncertainties described in Octave’s filings with the U.S. Securities and Exchange Commission. These forward-looking statements reflect management’s views as of the date they are made and are based on current expectations and assumptions, which are inherently uncertain and difficult to predict. Actual results may differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance, and actual results and developments in the markets and industries in which Octave operates may differ materially from those described in, or suggested by, the forward-looking statements contained in this press release. Octave disclaims any intention or obligation to update these forward-looking statements.

FOR MORE INFORMATION, CONTACT:   

Investors: Elizabeth Chwalk, VP, Investor Relations, Octave +1 401-749-0278, elizabeth.chwalk@octave.com

Media: media@octave.com

About Octave:

Octave provides mission-critical software that empowers organizations to make informed decisions across every stage of the asset lifecycle — Design, Build, Operate and Protect — where performance, safety, and reliability are non-negotiable and failure is not an option. 

Turning complex operational data into actionable intelligence, Octave connects expertise, real-world conditions and enterprise-scale insight to improve performance, resilience and incident response where it matters most. 

Octave has approximately 7,200 employees in 45 countries. Learn more at octave.com and follow us on LinkedIn. 

FAQ

How did Hexagon distribute Octave Intelligence (OCTV) shares to its shareholders?

Hexagon distributed all Octave shares as a dividend in kind. According to Octave, shareholders received one Octave class A or class B share for every ten corresponding Hexagon Series A or Series B shares held as of 22 May 2026.

On which exchanges are Octave Intelligence (OCTV) securities traded and under what tickers?

Octave securities trade in Sweden and the US. According to Octave, SDRs trade on Nasdaq Stockholm under ticker OCTV SDB, while class B ordinary shares are expected to trade on Nasdaq New York under ticker OCTV from 28 May 2026.

How can holders convert Octave SDRs (OCTV SDB) into Nasdaq OCTV shares?

Holders must instruct their bank or broker to initiate SDR cancellation. According to Octave, SEB cancels the SDRs and delivers underlying class B ordinary shares through Euroclear Sweden and Depository Trust Company, with free conversion for six months from the first Stockholm trading day.

When will Octave Intelligence (OCTV) begin regular-way trading on Nasdaq New York?

Regular-way trading is expected to start on 28 May 2026. According to Octave, its class B ordinary shares will trade on the Nasdaq Stock Market in New York under ticker OCTV, identified by ISIN IE0003YHD8K8 and CUSIP G22845 104.

What are the SDR conversion fees and timeline for Octave Intelligence (OCTV SDB)?

Conversion is free for the first six months. According to Octave, cancelling SDRs to receive underlying class B shares carries no fee initially, but a conversion fee applies to holders or nominees after that period; investors should confirm timing with their bank or broker.

What is Octave Intelligence’s Home Member State for transparency rules?

Octave has chosen Ireland as its Home Member State. According to Octave, the company is subject to Irish Transparency Regulations 2007 (as amended), the Central Bank Investment Market Conduct Rules 2019, and the EU Transparency Directive for ongoing disclosure obligations.