Fintech firm ayondo targets Catalist IPO at $21m

ayondo will be the first fintech firm to be listed on the SGX-ST Catalist board if this pushes through.

Global fintech firm ayondo Ltd. has registered its offer document by Singapore Exchange Securities Trading Limited (SGX-ST) for a listing on the Catalist board of the Singapore Exchange Securities Trading Limited.

According to a statement, ayondo offered 80.77 million invitation shares comprising of 8.9 million offer shares at 26 cents each by way of a public offer in Singapore and 71.87 million placement shares at 26 cents each. This translates to a total of $21m. Market cap as at the IPO will be $130.7m.

ayondo CEO Robert Lempka said, “We are very excited that ayondo is the first fintech company to be listed on the Singapore Stock Exchange’s Catalist Board.”

Lempka noted that the firm received support from investors during the private placement exercise and also secured investment from Pheim Asset Management (Asia) Pte. Ltd and Pheim Asset Management Sdn Bhd. where Pheim subscribed for less than 5% of the enlarged share capital post-IPO. “Pheim Asset Management Asia (Pte) Ltd is a long standing licensed fund management company in Singapore while Pheim Asset Management Sdn Bhd is a long established licensed fund management company in Malaysia,” he said.

ayondo has subsidiaries in the UK (FCA) and Germany (BaFin) and additional offices in Singapore, Spain and Switzerland. “The Group is considered as one of the fintech pioneers in Europe which have capitalised on the opportunity arising from emerging digital technologies and changing trends in the financial industry,” it said.

ayondo combines trading and investment with elements of social media through Social Trading. “Social Trading represents a fast-growing innovation, with a high growth rate which allows retail investors and traders to monitor and copy trading strategies of market experts in real time, proportionate and fully automated. Key benefits, amongst others, are knowledge transfer and performance replication,” it said.

The public offering will open on 16 March 2018 and will close at 12 p.m. on 22 March 2018. The shares are expected to commence trading on the SGX-ST on a “ready” basis at 9 a.m. on 26 March 2018.

UOB Kay Hian Private Limited is the sponsor, issue manager, underwriter, and placement agent for the listing.