Ayondo close to becoming Singapore's first fintech listing: Sources

Ayondo close to becoming Singapore's first fintech listing: Sources

Singapore's dollar sank 0.8 percent -- the most in five months -- after the Monetary Authority
SGX Centre. (File photo: AFP/Roslan Rahman)

SINGAPORE: Financial technology group Ayondo is back on track to become the first fintech firm to list in Singapore, with plans for an initial public offering over the next few months, according to industry insiders. 

Ayondo, a European group that specialises in financial trading technologies, is expected to seek a listing on the Catalist board in the first quarter of 2018, the industry insiders said. 

Channel NewsAsia understands that the company is close to completing the listing process. 

Ayondo had sought a listing via a reverse takeover (RTO) last year. 

Plans were in place for Ayondo to be acquired by Catalist-listed developer Starland Holdings for S$157.5 million.

But the fintech firm announced in October last year that the RTO had fallen through after certain conditions in the sales purchase agreement could not be fulfilled. 

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

Source: CNA/ng

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