The NAGA Group AG: Successful IPO of the Hamburg-based FinTech company on the stock market
THE NAGA GROUP AG: Successful IPO of the Hamburg-based FinTech company on the stock market
- Stock included in the "Scale" segment of Deutsche Börse AG
- Buying price at 3.60 EUR (issue price: 2.60 EUR)
_______________________________________________________ Hamburg, 10th July 2017
The Naga Group AG, a company specialising in disruptive trading technologies in the financial sector, has today launched a successful stock exchange debut on the open market (free market) of Deutsche Börse AG. The shares (WKN A161NR, ISIN DE000A161NR7) were included in the "Scale" trading segment. The first price was set at EUR 3.60, an increase of 36% on the offer price of the multiple IPO of 2.60 EUR.
In total, 1,000,000 new registered bearer shares of The NAGA Group AG were offered to private and institutional investors in Germany, Austria, Spain and Switzerland. Subscriptions were made through the DirectPlace drawing tool at the Frankfurt Stock Exchange, and via the NAGA-owned trading app, SwipeStox, and the company's homepage. The issuer's share capital increased to EUR 21,008,048.00 as a result of the successful placement of the new shares.
Benjamin Bilski, CTO The Naga Group AG: "Less than two years after the founding of the company, the move to the stock market has already taken place. At the end of the first quarter, we successfully completed capital measures and the gross proceeds from this IPO are well financed with a view to our corporate planning. In the IPO, in particular, we see an excellent opportunity to increase our brand recognition and the targeted development of the Naga share as the company's second currency for external growth."
THE NAGA GROUP AG:
The THE NAGA GROUP was founded in August 2015 by Benjamin Bilski, Yasin Sebastian Qureshi and Christoph Brück. The company's aim is to drive the development, marketing and growth of disruptive applications for financial technology, and to actively participate in the process of changing and opening up the existing financial system. The word "NAGA" is Sanskrit and means "Cobra snake". It is also the name of one of the world's hottest chillies.
______________________________Contact: The NAGA Group AG Alexander Braune Herrengraben 31 20459 Hamburg Email: firstname.lastname@example.org
UBJ. GmbH Ingo Janssen Haus der Wirtschaft Kapstadtring 10, 22297 Hamburg Phone.: 040 6378 5410 Email: email@example.com
10.07.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: The NAGA Group AG Herrengraben 31 20459 Hamburg
Germany E-mail: firstname.lastname@example.org Internet: www.thenagagroup.com ISIN: DE000A161NR7 WKN: A161NR Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Open Market (Scale) in Frankfurt End of News DGAP News Service