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Screenshot of a breaking news alert e-mail from Q2 2017
Further to our report from yesterday that FCA and BaFin regulated social trading and CFD broker Ayondo is gearing up for another run at a Singapore IPO, Ayondo today formally announced that it had filed preliminary IPO documents with the Singapore Exchange, to list the company on the SGX Catalist Board.
The Ayondo announcement (see full text below) didn’t give any specifics about IPO valuation or timing, but our report from yesterday indicated that the company is targeting a valuation in the $100 million range. And, that the company hopes to have the IPO completed by the end of Q1 or beginning of Q2.
We had reported back in October that FCA and BaFin regulated Ayondo was canceling its intention to “go public” on the Singapore Exchange via a Reverse Takeover of an already publicly traded company called Starland Holdings. Ayondo had first stated its intention of doing a Reverse Takeover back in April 2016.
The full text of today’s statement from Ayondo reads as follows:
FinTech company ayondo’s preliminary offer document lodged with the Singapore Exchange Securities Trading Limited
Singapore, 1st March 2018 – Further to its announcement made on 10th October 2017, Financial Technology group ayondo wishes to announce the lodgement of a preliminary offer document with the Singapore Exchange Securities Trading Limited (“SGX-ST”) in connection with the initial public offering and listing of ayondo Ltd. on the Catalist Board of SGX-ST.
ayondo remains on track to be the first FinTech company to be listed in Singapore.
Robert Lempka, CEO ayondo group says “We are excited to enter the final stages in the process of the planned IPO. The proposed listing on SGX will provide an excellent platform for ayondo’s future growth.”
ayondo is a global FinTech company with subsidiaries authorised and regulated in the UK (FCA) and Germany (BaFin) and additional offices in Singapore, Spain and Switzerland, offering innovative trading and investment solutions for retail and institutional customers.
By combining trading and investment with elements of social media, ayondo is disrupting the traditional asset management industry by offering an alternative way to trade and invest through Social Trading. Social Trading represents a fast-growing innovation, which allows traders to share and follow other traders’ trading and investment strategies automatically, proportionally and on a real-time basis.