NAGA Group Sees Profitable IPO on Frankfurt Inventory Change

NAGA Group AG has formally been listed on the Frankfurt Inventory Change, following a profitable preliminary public providing (IPO). The group was listed within the SME phase scale on the change with a complete problem quantity of $2.86 million (€2.51 million) and an preliminary worth of ($4.1) €3.60 per share.

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NAGA Group’s inclusion represents the primary firm from Deutsche Börse’s Enterprise Community to be accessible for buying and selling on the Frankfurt Inventory Change. The Enterprise Community caters particularly to small and medium measurement enterprises (SMEs) in search of fairness financing choices. At present’s profitable itemizing follows latest regulatory approval by Germany’s Federal Monetary Supervisory Authority (BaFin), which inexperienced lighted NAGA’s inclusion on the Frankfurt inventory change earlier this yr.

Deutsche Börse – NAGA share buying and selling 10/7/2017

Since June eight NAGA has been providing upwards of million new shares of $2.96 (€2.60 every) by way of subscription. Hamburg-based NAGA Group is a supplier of disruptive monetary expertise and innovation incubation. The corporate is the proprietor of SwipeStox, a preferred mobile-centric app for social buying and selling. SwipeStox has been one of many fastest-growing entities over the previous yr, having been built-in and utilized by a number of main brokerages. The cell app is at the moment offering providers to over seven brokers, together with names corresponding to One Monetary Markets and ThinkMarkets.

Main as much as the IPO, NAGA had additionally led a profitable funding spherical again in March 2017. The group managed to safe one of many largest FinTech Collection A investments in all of 2017 from FOSUN, a worldwide Chinese language funding group, serving to advance its agenda and development trajectory. The $14.2 million (€12.5 million) funding spherical helped function an eventual impetus for the group’s IPO plans, which had been focusing on a July itemizing for months.

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