European financial technology company ayondo is set to get listed on the Singapore Exchange’s (SGX) Catalist board – the bourse operator’s secondary board – on Mar 26.
It will be the first fintech firm to list on the SGX.
The company is trying to transform the brokering industry by providing a social trading platform, where users can copy the trading strategies of top traders who are trading on the ayondo platform.
It will issue more than 80 million shares, with 8.9 million as offer shares and 71.8 million as placement shares.
The starting share price will be S$0.26 and the total number of shares post-Initial Public Offering (IPO) will be at 502.7 million shares, valuing the fintech company at S$130.7 million.
ayondo’s CEO Robert Lempka told reporters at a media conference Friday (Mar 16) that the company decided to go public because it will add credibility to the company, which is a challenge that fintech companies generally face.
The decision to list in Singapore is because ayondo is looking to expand its operations in Asia.
Mr Lempka said Asia is a very important region as there is a high level of wealth generation and its population is willing to use technology.
The company will also be looking to grow its business by partnering with others financial services in Asia that are regulated and have an existing pool of customers.