SGX to see first fintech listing on Catalist board with Ayondo IPO

SGX to see first fintech listing on Catalist board with Ayondo IPO

A man rides an escalator past an electronic screen at the Singapore Exchange Ltd. (SGX) headquarters in Singapore, on Tuesday, June 28, 2016. Photographer: Nicky Loh/Bloomberg

Following a failed reverse takeover (RTO) involving Starland Holdings last year, European social-trading broker Ayondo Ltd is set to become the first financial technology (fintech) enterprise to list on the Catalist growth board of the Singapore Exchange (SGX), according to a report by The Business Times.

Singapore-based private equity firm Luminor Capital, a majority shareholder in the loss-making European firm since 2014, is seeking to conduct a public float of the firm at a potential valuation of close to S$140 million ($105.6 million). Ayondo could launch its pre-IPO roadshow as early as next month.

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