FinTech developer NAGA to go public on Deutsche Boerse as IPO launched - FinanceFeeds

FinTech developer NAGA to go public on Deutsche Boerse as IPO launched

In total, up to 1,000,000 new registered shares in The NAGA Group AG will be offered for subscription from 8 June (9:00 am) until probably 29 June 2017 (12:00 pm for private investors, 3:00 pm for institutional investors).

The Naga Group AG (NAGA), which specialises in disruptive trading technologies in the financial sector and is the parent company of the social trading network SwipeStox, is going public. The listing of The NAGA Group AG equities on the open market of Deutsche Börse AG in the “Scale” segment is planned for 10 July 2017 – subject to an earlier completion of the subscription. The basis of the offer is the securities prospectus approved by the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht, or German Federal Financial Supervisory Authority) yesterday, which is available on the company’s website at in the Investor Relations section.

In total, up to 1,000,000 new registered shares in The NAGA Group AG will be offered for subscription from 8 June (9:00 am) until probably 29 June 2017 (12:00 pm for private investors, 3:00 pm for institutional investors). The public offering is aimed at private and institutional investors in Germany, Austria and Spain. There will also be a placement in Switzerland. The share capital of the issuer of currently EUR20,008,048.00 will be raised to up to EUR21,008,048.00 on successful placement of the new equities.

The price at which the purchase offer can be made is EUR2.60 per new share (WKNA161NR, ISIN DE000A161NR7) on subscription via the subscription tool DirectPlace on the Frankfurt Stock Exchange. Those interested in subscribing who already hold a Real Money Account at the broker Hanseatic Brokerhouse Global Marktes Ltd (HBGM), which the issuer is currently acquiring, or who open such an account to subscribe to this offer are entitled to make an offer to purchase with a discount of 5 per cent on the price, or EUR 2.47 per new share. This subscription will be made via the NAGA trading app SwipeStox or via the company’s website.

The likely listing date of the shares in the Scale segment is planned for 10 July 2017. The gross emission revenues of up to EUR2.6 million are intended to finance the further growth of the company and will be invested in marketing to attract more users to the SwipeStox app, and also in both the company’s software and business development.

Against the background of the capital measures successfully completed at the end of the first quarter of 2017, NAGA is already very well financed for the planned growth of the company, which is why the IPO is particularly aimed at improving the company’s profile and developing its equity – including as a currency for further expansion.

NAGA wants to change the financial landscape through its technology
The innovative FinTech implements fast-moving technological developments that keep pace with the continuously growing requirements of the financial industry. The company’s mission is to develop, promote, and grow pioneering applications in financial technology which will transform the currently outdated financial system and make this new reality more accessible to everybody.

NAGA currently has offices at six locations in three European countries. Furthermore, additional locations in Shanghai and New York will be soon set up in future in order to connect directly with the company’s many potential partners in the American and Asian markets.

“The flotation is the next logical step in our so far unexpectedly successful growth story,” says Christoph Brück, director of The NAGA Group. Benjamin Bilski, CTO, and thus responsible for technological development, adds: “The technological requirements demanded of the financial industry will increase massively in the future. It is precisely this demand that we meet for the sector, by profitably contributing our IT expertise alongside our know-how in the financial world.”

Major Chinese investor & awards confirm growth trend
A major milestone in the company’s expansion was achieved just a short time ago. As part of one of the largest series A financing rounds in Europe in the Fintech sector this year, The NAGA Group was able to secure the Chinese investor Fosun as a shareholder. Fosun invests worldwide with a portfolio of over 50 billion US dollars. More than just a highly significant financial partner, Fosun will also support the company as it looks to substantially build up its activities in Asia.

In addition, NAGA has recently won several awards for its innovative technologies. The company was particularly delighted to win the highly prestigious Red Herring Award, of which previous recipients include game-changing giants such as Alibaba, Facebook, Google and YouTube.

SwipeStox, the first success story
NAGA is made up of a highly experienced team with expertise in both the financial markets and the fast-moving world of technological developments. One of the first successful projects of The NAGA Group AG so far has been SwipeStox, the social network for market trading. This trading app offers users an innovative way to trade on the global financial markets within the familiarity of a social media platform.

It gives users the opportunity to copy trades made by demonstrably successful traders or to generate followers of their own. Users who successfully introduce new members to the SwipeStox community are rewarded with a bonus, regardless as to whether that new use goes on to make any trades of their own. The SwipeStox system is supplemented with features such as the Trader Radar (displaying the trader’s place of residence), discussions about individual trades, news and a TV range.

Community considerations and complete transparency are at the forefront of the SwipeStox ethos. The aim is for SwipeStox to ultimately become the world’s largest network for stock market trading.

“Switex”, the new venture in the pipeline. 
The Switex project is another business and technological development with considerable growth potential. In NAGA’s assessment, Switex will be the first platform in the world for trading in virtual objects from the computer or online gaming sector (so-called in-game items).

Switex is intended to give users the opportunity to trade in and with in-game items through an independent, secure and reliable platform. In this manner Switex wants to offer users a degree of transparency and security that is not currently offered internationally. Switex GmbH is a Joint Venture of The Naga Group AG and Deutsche Börse AG.

Furthermore, there are plans to bring another two FinTech apps online at the end of the year or at the beginning of 2018.

+ Read This Next

Saxo client collateral deposits exceed DKK 100 billion

The bank’s capital position is strong with a Common Equity Tier 1 ratio of 14.9%, a Tier 1 capital ratio of 17.1% and a total capital ratio of 19.5%. The Common Equity Tier 1 buffer was DKK 1.0 billion, corresponding to 6.4% of the risk exposure amounts.