What is the subscription price?
The subscription price (emissionskurs) is the price per new share in a new share issue — the amount an investor pays to subscribe for a share. It is set in the issue resolution and determines how much capital the company raises and at what valuation the new shares are issued.
Par value and premium
A share's par value (kvotvärde) is the share capital divided by the number of shares. The subscription price is often higher than the par value — the difference is called a premium (överkurs) and goes to a share-premium reserve in the company. A price above par means new investors pay a price that reflects the company's built-up value, not just its nominal share capital.
Subscription price and dilution
The subscription price determines how much existing owners are diluted. A low price raises less capital per share and causes heavier dilution; a high price reflects a higher valuation and gives less dilution for the same capital. For you as an investor, the subscription price is a reference point for the company's valuation.