AYONDO IPO: WILL YOU SUBSCRIBE?
AYONDO will be the first fintech IPO on SGX as AYONDO is currently placing out both placement shares (71.87 million shares) and public tranche (8.9 million shares) for its IPO. Shares will be offered at $0.26 per share.
The nature of Ayondo’s business is trading and investing with elements of social media through Social Trading. According to what I have read online, according to Ayondo, Social Trading represents a fast-growing innovation with a high growth rate that enables retail investors and traders to monitor and copy trading strategies of market experts real time.
Curious to find out more about this Social Trading business of Ayondo, I went to their website and under “Social Trading”, Ayondo website says that following top traders is the new way to invest. I navigated further to read more about Ayondo and as what it describes itself, everything I read seems financial technology related. In a nutshell, Ayondo is about helping investors invest and trade using insights enabled by technology: e.g. how top traders trade etc. Embedded at top of the post is a video related to how Ayondo works.
On the backdrop of technology stocks doing very well recently like Creative Technology, Ayondo IPO could do very well. But for investors who grapple with understanding the nature of Ayondo and not liking the financial performance of Ayonodo (Ayondo’s net loss stood at S$9.1 million for the first nine months of year 2017), Ayondo could be an IPO which could be missed. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.