Numisbing AB (publ) receives almost SEK 19.6 million in a new share issue before the application for listing
STOCKHOLM, August 23, 2019 - NUMISBING AB ("Numisbing" or "The Company") announced today that the company has now closed its issuance of shares as it prepares to apply for listing on Nasdaq, First North this fall. The issue brought in SEK 19,590,933, including an offer totaling SEK 24.4 million (80.3 percent subscription).
The company recently secured a three-year capital commitment of SEK 150 million through share purchases from GEM Global Yield Fund LLC SCS ("GEM"), a New York- based private investment group. Half of this investment will go towards a Collectibles Fund to acquire more collectible items.
Numisbing founder and chairman, Ramkumar Sarangapani, commented on the development:
"We are very pleased to secure this capital injection into Numisbing following our agreement with the GEM Global Yield Fund. Numisbing now has the opportunities to grow rapidly across new geographical markets.
Thanks to high enthusiasm within the collector market over the last few years, the fund is showing very strong growth, with over 28 percent growth in 2018 and 13,35 percent growth in the first six months of 2019."
The issue brought in SEK 19,590,933 before customary issue costs, including an offer totaling SEK 24.4 million.
Growth within Numisbing
The company is growing rapidly, having nearly doubled its turnover from SEK 19 million in 2017 to SEK 37 million in 2018. The forecast for further growth in 2019 continues to look extremely promising and the firm’s management hopes to double its sales this year. Numisbing’s large fund holdings in the Cayman Islands are integral to further growing the company’s value.
As it prepares for its Initial Public Offering (IPO) on the Nasdaq in Stockholm, Numisbing will undergo pre-listing testing with Certified Advisor in Sweden. No new shares will be issued in relation to the listing.
Few listed companies specialize mainly in rare and antique coins and other unique collectibles. All investments in antique coins and collector’s items are made through the fund.
The investment market
Enthusiasm for investing in historical coins has increased in recent years, with investors in the international stock market looking for more diversified investment portfolios. Spurred by global stock market concerns and uncertainty, investors are looking for more stable investment items with more lucrative value propositions. This has consequently lead to a price increase for these objects, mainly consisting of historical coins.
The investment market
Enthusiasm for investing in historical coins has increased in recent years, with investors in the international stock market looking for more diversified investment portfolios. Spurred by global stock market concerns and uncertainty, investors are looking for more stable investment items with more lucrative value propositions. This has consequently lead to a price increase for these objects, mainly consisting of historical coins.
About the Collectibles Fund:
The Collectibles Fund Segregated Portfolio, managed by Cabaritta Funds SPC, is a closed fund that has operated in the Cayman Islands since 2017. The fund's chief goal revolves around appreciated assets within its collection area and investing primarily in collector’s items and artworks, seeking an annual return of over 10 percent. Currently, it has six different asset classes with separate portfolios based on different types of investments.
About GEM:
GEM (www.gemny.com), founded in 1991, is a USD $3.4 billion alternative investment group that manages a diverse set of investment vehicles within emerging markets across the world.
Having completed 370 transactions in 70 countries, GEM's investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Their funds and investment vehicles provide GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.
GEM's funds include CITIC-GEM Fund (matured in December 2015), Kinderhook Industries (GP and LP non-voting stakes), GEM Global Yield Fund LLC SCS, GEM India and VC Bank/GEM Mena Fund (GEM exited both its GP and LP stakes in these funds in 2015 and 2010).
For more information, contact
Ramkumar Sarangapani, Chairman of the Board 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.
About NUMISBING:
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 late summer 2019, Numisbing AB will apply for listing at Nasdaq, First North in Stockholm. Please head over to www.numisbing.se to learn more.