Financial technology group ayondo remains on track to be the first FinTech company to be listed in Singapore.
It will seek a listing through an Initial Public Offering (IPO) instead of the Reverse Takeover (RTO) as announced in mid-2016. The RTO was brought to an end in September because certain conditions of the Sales Purchase Agreement between the parties could not be fulfilled by ayondo’s contractual partner.
Robert Lempka, CEO ayondo group says
“The end of the RTO opens up the way for ayondo to pursue an Initial Public Offering (IPO) instead. The preparation work for an RTO and IPO is almost identical in Singapore and therefore provision is made for a listing in early 2018.”
Other parties involved in the process such as the Sponsor, UOB Kay Hian Private Limited, as well as the Singapore Exchange Limited (SGX), continues to support ayondo in the listing process.
In November 2017, ayondo CEO Robert Lempka will share insights as a speaker at the Fintech Festival in Singapore.
“We are proud to be part of the vibrant FinTech scene in Singapore and can’t wait for the listing to happen”
One month ago, ayondo Group announced the activation of its portfolio management licence issued by the German regulator (BaFin) making ayondo the first FinTech company offering their services under such a licence.
Featured image via ayondo Facebook page