3/264 TABLE OF CONTENTS Page ABOUT THIS PROSPECTUS ii NOTE REGARDING FORWARD­LOOKING STATEMENTS iii PRESENTATION OF FINANCIAL AND OTHER INFORMATION iv MARKET AND INDUSTRY DATA v SUMMARY 1 SUMMARY CONSOLIDATED FINANCIAL AND OTHER DATA 10 RISK FACTORS 14 USE OF PROCEEDS 56 DIVIDEND POLICY 57 CAPITALIZATION 58 CURRENCIES AND EXCHANGE RATES 59 SELECTED HISTORICAL FINANCIAL INFORMATION AND OTHER DATA 60 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 63 LETTER FROM DANIEL EK 92 BUSINESS 94 MANAGEMENT 126 REGISTERED SHAREHOLDERS 144 PRINCIPAL SHAREHOLDERS 147 RELATED PARTY TRANSACTIONS 149 DESCRIPTION OF SHARE CAPITAL AND ARTICLES OF ASSOCIATION 150 SHARES ELIGIBLE FOR FUTURE SALE 168 SALE PRICE HISTORY OF ORDINARY SHARES 170 CERTAIN TAXATION CONSIDERATIONS 171 PLAN OF DISTRIBUTION 180 EXPENSES OF THE REGISTRATION 182 ENFORCEMENT OF CIVIL LIABILITIES 183 LEGAL MATTERS 185 EXPERTS 185 WHERE YOU CAN FIND MORE INFORMATION 186 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F­1 We are responsible for the information contained in this prospectus and in any free writing prospectus we prepare or authorize. Neither we nor the Registered Shareholders have authorized anyone to provide you with different information, and neither we nor the Registered Shareholders take responsibility for any other information others may give you. We are not, and the Registered Shareholders are not, making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. The information in this prospectus is only accurate as of the date of this prospectus. Our business, financial condition, results of operations, and prospects may have changed since that date. For investors outside the United States: We have not and the Registered Shareholders have not done anything that would permit the use of or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the ordinary shares and the distribution of this prospectus outside the United States. i