German fintech Ayondo to take IPO route to SGX after RTO falls through

The SGX Centre at Shenton Way. Credit: DealStreetAsia

German social trading platform Ayondo AG is set to become the first overseas fintech venture to list on the Singapore Exchange (SGX) this year even as the bourse seeks to expand and strengthen its technology cluster.

Founded in 2008, Ayondo is a brokerage platform that lets users copy moves of leading traders to optimise returns. In March 2017, the public float of Frankfurt-based Ayondo on the SGX was seen as a litmus test of the city-state’s investor base. However, these plans shifted after the reverse takeover (RTO) bid from a Singapore-based property developer, Starland Holdings, fell through.

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