DGAP-News flatexDEGIRO: First pan-European online broker listed in Prime Standard

Nachrichtenquelle: EQS Group AG
26.10.2020, 11:40  |  132   |   |   

DGAP-News: flatex AG / Key word(s): Miscellaneous
flatexDEGIRO: First pan-European online broker listed in Prime Standard

26.10.2020 / 11:40
The issuer is solely responsible for the content of this announcement.


flatexDEGIRO: First pan-European online broker listed in Prime Standard

- Highly profitable technology group valued at around 1.2 billion euros

- SDAX listing expected in December 2020 as part of Deutsche Börse's Fast Entry

- Continued strong momentum in third quarter underpins scalability of business model

- Introduction of "flatex next" and synergies with DEGIRO to further accelerate profitable growth

- New company name flatexDEGIRO supports increase of local brand awareness

Frankfurt/Main - flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) today successfully started trading in the Prime Standard of the Frankfurt Stock Exchange after admission to the regulated market. Based on the initial share price of EUR 43.00 on 26 October 2020, the leading pan-European online broker is currently valued at around EUR 1.2 billion.

"With the DEGIRO transaction we have laid the perfect foundation for long-term international growth, which will be further strengthened by our coming app "flatex next" in Germany. It enables us to offer a more intuitive user interface for our successful trading platform to a broader range of customers and allow them to complete the entire account opening process including video authentication in just five minutes. We thereby consistently implement the initiated strategy of further expanding our leading European position. Our new company name flatexDEGIRO AG, which will soon become effective, demonstrates this joint ambition," says Frank Niehage, CEO, outlining the growth strategy of the online broker.

By 2025 at the latest, flatexDEGIRO expects to almost triple its current customer base to around 3 million. The number of trades executed is expected to increase to at least 100 million p.a. in the same period. A record result for the first half of 2020 and the continuing strong momentum in the third quarter underpin management's confidence in its long-term growth ambitions. In particular, the significant increase in the number of customers, which is expected to be almost 50 percent higher than the previous year's figure at the beginning of 2021, provides a solid basis for this.

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DGAP-News flatexDEGIRO: First pan-European online broker listed in Prime Standard DGAP-News: flatex AG / Key word(s): Miscellaneous flatexDEGIRO: First pan-European online broker listed in Prime Standard 26.10.2020 / 11:40 The issuer is solely responsible for the content of this announcement. flatexDEGIRO: First pan-European …

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