Safello's IPO heavily oversubscribed
Safello's IPO was subscribed to 1240% – Northzone, White Star Capital and Digital Currency Group are anchor investors ahead of listing on Nasdaq First North on May 12
Stockholm, 5 May 2021 | Sweden's leading broker for cryptocurrencies, Safello, announced late last night that the new share issue of SEK 40.5 million prior to the planned listing on Nasdaq First North was heavily oversubscribed, with a subscription ratio of 1240%, corresponding to more than half a billion SEK.
– We are very happy about the overwhelming interest that Safello's IPO has generated. This is another validation of the maturity of the crypto industry and how it is finding its footing in the established financial industry. Now the focus is on executing our growth plans and creating long-term value for our shareholders, says Frank Schuil, co-founder and CEO of Safello.
Through the new share issue, Safello will receive SEK 40.5 million and over 1,500 new shareholders. Anchor investors include a number of well-known names such as Northzone, White Star Capital and Digital Currency Group.
– The financial sector is facing a transformation and we are convinced that collaborations between crypto companies and traditional financial players will be the key to driving this transformation, Frank Schuil concludes.
Recently, the Swedish financial magazine Affärsvärlden issued a subscription recommendation in Safello's IPO and the offer of SEK 40.5 million was subscribed for approximately SEK 502 million, which corresponds to a subscription rate of approximately 1240 percent.
Trading in Safello's shares is expected to begin on Nasdaq First North on May 12, 2021 under the ticker SFL.
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For more information, please contact
Frank Schuil, co-founder and CEO of Safello, press@safello.com
Certified Adviser
Corpura Fondkommission AB, info@corpura.se, +46 722 52 34 51
Safello is an award-winning cryptocurrency exchange. Safello offers a safe way to buy and sell cryptocurrency in seamless transactions and to a market leading speed. Safello has been regulated at the Swedish Financial Supervisory Authority since 2013.
