Numisbing IPO moving forward
Like many companies, Numisbing AB has faced a slowdown in growth as a direct result of COVID-19’s impact. Despite this, the numismatics firm is progressing its plans to seek listing on First North Nasdaq in Stockholm this fall.
With a 70 percent market share in the Middle East and a significant presence in India, Numisbing now seeks to position itself as a global leader in collectible rare coins and banknotes.
As plans for an Initial Public Offering move ahead, Numisbing is also broadening its investor relations and financial reporting by commencing quarterly financial reporting. Last year, a stock offering was made to widen ownership and prepare the company for public listing, with an aim to secure favourable liquidity in the marketplace.
The Board of Directors is exploring measures to strengthen Numisbing’s revenues and balance sheet before listing. Alongside this, the company is eyeing entry into the European numismatic market, opening the door to potential acquisitions.
Ramkumar Sarangapani, CEO in Numisbing AB , said “While the pandemic has proven a difficult period, it has had the knock-on effect of generating a massive surge in the value of and appetite for rare collectible coins and banknotes. This follows a long-running trend now where have seen their value continue to rise, in part due to the scarcity in total number of collectible historical objects. This puts us in a great position as we look to rapidly establish ourselves in the European market next.”
Numisbing’s largest asset is its participation in the Cabaritta Funds SPC Collectibles Fund Segregated Portfolio (ISIN KYG3165T1206). This investment comes at a crucial time when the value of collectible rare coins and notes is increasing, with investors seeking new safe havens to help diversify their portfolios and minimise risk. Few listed companies currently trade in numismatics and most auction houses do not actively invest in numismatics
Numisbing has filed an application to financial services firm Euroclear, with a view to make use of its central securities depository service. The Company will also appoint a Certified Adviser to support the Company through the listing process and beyond. More information on these announcements will shared in the near future.
The 2019 Consolidated Annual Report, along with reports for Q2 (including an update on the fund’s development) are due to be published shortly.
For more information, contact Ramkumar Sarangapani, CEO of Numisbing AB, Tel. +971 50 588 1838, Email: ramkumar@numisbing.com, or
Jan Rejdnell Investor Relations (IR) Tel. + 46 () 0708-14 44 00, Email: jan@delecta.se.
NUMISBING AB is a Numismatics & Arts company headquartered in Stockholm, Sweden, with business operations based in Dubai, United Arab Emirates. It is currently in the process of listing on the Nasdaq First North Stock Exchange in Stockholm, Sweden. Since its inception in 2012, Numisbing has grown into a leading Numismatics company in the Middle East Region, with a market share close to 75 percent.
In autumn 2020, Numisbing AB will apply for listing at Nasdaq, First North in Stockholm. Please head over to www.numisbing.se to learn more.
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