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IPO of The NAGA Group AG in Frankfurt Stock Exchange’s Scale segment

Release date: 10 Jul 2017 | Deutsche Börse Cash Market

IPO of The NAGA Group AG in Frankfurt Stock Exchange’s Scale segment

Further listing of a company from Deutsche Börse Venture Network

With the Hamburg-based fintech, The NAGA Group AG, the first company from the Deutsche Börse Venture Network has been listed in the SME segment Scale on the Frankfurt Stock Exchange. The issue volume of the IPO was €2.51 million. The first price was €3.60, the issue price €2.60.

The IPO was accompanied by Hauck & Aufhäuser Privatbankiers AG, which also has the role of a designated sponsor for Xetra trading. Steubing AG acts as the specialist on the Börse Frankfurt venue.

According to information provided by the company, the Naga Group aims to drive the development, marketing and growth of disruptive applications in financial technology and thereby play a part in the change and the opening up of existing financial markets.

Currently 45 equities and 14 corporate bonds are listed in the Scale segment at the Frankfurt Stock Exchange. Company admission for the segment includes meeting minimum requirements on key financial figures and cooperating with a Deutsche Börse capital market partner that checks the company's suitability for the segment and oversees companies after their IPO. Research reports commissioned and paid for by Deutsche Börse, and prepared by Edison Investment Research and Morningstar, are also mandatory. The Scale All Share Index tracks all Scale-listed shares.

 

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