Swedish AB Stockholms Spårvägar 25 transport token

This is a Swedish AB Stockholms Spårvägar 25 transport token, manufactured by Sporrong & Co., Stockholm. The identification is confirmed by specialist transportation-token catalogues, which record this exact combination of inscriptions.
The token is catalogued as a round bronze, 18 mm piece:
Obverse: A.B. STOCKHOLMS SPÅRVÄGARReverse: large 25, with SPORRONG & CO belowManufacturer: Sporrong & Co., StockholmMetal: bronzeDiameter: approximately 18 mmDate: undatedPeriod: first half of the 20th centuryType: Stockholm public-transport/spårväg tokenThe exact type was already documented in an international transportation-token catalogue in 1952 as “A.B. Stockholms Sparvagar / Sporrong & Co. 25,” so the token necessarily predates that publication.
AB Stockholms Spårvägar itself was established in 1916, when Stockholm consolidated much of its tramway system. The historic company continued under this name until 1967, when it became part of AB Storstockholms Lokaltrafik (SL). Stockholm's tram system was enormous during this era, reaching its greatest extent during the 1940s before the expansion of the Tunnelbana gradually replaced many routes.
One thing I would be careful about in a listing: although the large 25 probably represented a tariff/value within the company's fare system, the token itself does not say “25 ÖRE.” I would therefore describe it as a “25-value transport token” rather than categorically calling it a 25-öre token unless a more detailed Swedish specialist reference confirms the denomination.
Your specimen is quite good for the type. It has a strong, even brown patina, a very clear 25, essentially complete A.B. STOCKHOLMS SPÅRVÄGAR lettering, and the decorative border remains well defined. There are some dark surface spots but no serious corrosion or major damage visible. I would roughly assess it as VF/XF (1+/01) from the photographs.
It is a specialist collectible rather than an expensive token. A Svenska Pollettföreningen auction catalogue has listed the closely related AB Stockholms Spårvägar 30 type, catalogued SP.5A.16.1, at only 50 SEK, illustrating how inexpensive this field can be despite the historical interest.
For your 25 variety in this condition, I would currently estimate:
Auction: roughly 75–150 SEK
Specialist/retail: roughly 150–300 SEK
Optimistic Catawiki result with a strong Stockholm-history description: perhaps 250–400 SEK
The appeal here is less the intrinsic rarity and more that it is an authentic survivor of old Stockholm's tramway system, made by the famous Swedish medal and token manufacturer Sporrong. For a listing, I would emphasize “Stockholm tram token,” “AB Stockholms Spårvägar,” “Sporrong,” “Swedish transportation token,” and “early 20th-century Stockholm.”