European group Ayondo set for Singapore's first fintech listing: report


Financial technology group Ayondo is planning for an initial public offering in Singapore over the next few months, Channel NewsAsia reported on Wednesday quoting sources.

If the plans materialise, Ayondo would become the first fintech company to be listed on the Singapore Exchange.

Ayondo is expected to seek a listing on the Catalist board in the first quarter of 2018, the report said citing unnamed industry insiders.

Founded in 2008, ayondo specialises in financial trading technologies and has developed one of the world's most intuitive trading platforms and aims to develop more tools to allow more people to enjoy the rewards of the financial markets.

In 2013, ayondo was listed among the world's top 50 financial technology companies, the FinTech 50.

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Ayondo serves some 210,000 users from over 195 countries but less than a thousand revenue-generating active users are from Asia. The company expects the region to be the firm's highest revenue contributor in the coming years.

Ayondo had sought a listing via a reverse takeover (RTO) last year but the fintech firm announced in October last year that the RTO had fallen, the report said.

Ayondo's CEO Robert Lempka said in the October announcement that the company would pursue an IPO after the failed RTO.

This article was first published on January 24, 2018