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Social trading provider and brokerage, ayondo has just become the latest company from the industry to get IPO fever. The firm is aiming to become the first FinTech company from the industry to get listed on the Singapore Exchange (SGX).
The prospective move involves a reverse takeover transaction with a combined value of 210 million Singapore dollars with ayondo shareholders owning 75 per cent of the group. This puts the valuation of the company at about $115 million (SG$152.5 million), including the injection of some fresh capital. The amount of the new capital injection has not been disclosed.
The deal is in ... (read more)