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DGAP-News The NAGA Group AG: Hamburg-based FinTech company THE NAGA GROUP AG announces IPO. Planned inclusion in the 'Scale' segment of Deutsche Börse AG, Frankfurt.

Nachrichtenquelle: EQS Group AG
07.06.2017, 15:44  |  1184   |   |   

DGAP-News: The NAGA Group AG / Key word(s): IPO/Capital Increase

The NAGA Group AG: Hamburg-based FinTech company THE NAGA GROUP AG announces IPO. Planned inclusion in the 'Scale' segment of Deutsche Börse AG, Frankfurt.

07.06.2017 / 15:44

The issuer is solely responsible for the content of this announcement.

Not for distribution in the United States, Canada, Japan or Australia



Hamburg-based FinTech company THE NAGA GROUP AG announces IPO. Planned inclusion in the "Scale" segment of Deutsche Börse AG, Frankfurt.

- BaFin has approved the securities prospectus for the planned flotation of The NAGA Group AG (NAGA) in the Frankfurt stock exchange segment "Scale" with a likely first listing on 10 July 2017.

- 1 million new shares of EUR2.60 each will be offered for subscription from 8 June 2017.

- Subscription is available via DirectPlace at FWB (Frankfurter Wertpapierbörse or Frankfurt stock exchange) or NAGA's own trading app SwipeStox and website at preferential conditions.

- NAGA is already well financed for further growth, with the leading Chinese investment group FOSUN among its most significant shareholders since the end of March 2017.

- IPO is aimed at a targeted development of the equities.

- Well stocked project pipeline: after the successful launch of SwipeStox, the focus is now on the new project SWITEX.


Hamburg, 7 June 2017

The Naga Group AG (NAGA), which specialises in disruptive trading technologies in the financial sector and is the parent company of the social trading network SwipeStox, is going public. The listing of The NAGA Group AG equities on the open market of Deutsche Börse AG in the "Scale" segment is planned for 10 July 2017 - subject to an earlier completion of the subscription. The basis of the offer is the securities prospectus approved by the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht, or German Federal Financial Supervisory Authority) yesterday, which is available on the company's website at www.thenagagroup.com in the Investor Relations section.

In total, up to 1,000,000 new registered shares in The NAGA Group AG will be offered for subscription from 8 June (9:00 am) until probably 29 June 2017 (12:00 pm for private investors, 3:00 pm for institutional investors). The public offering is aimed at private and institutional investors in Germany, Austria and Spain. There will also be a placement in Switzerland. The share capital of the issuer of currently EUR20,008,048.00 will be raised to up to EUR21,008,048.00 on successful placement of the new equities.

The price at which the purchase offer can be made is EUR2.60 per new share (WKNA161NR, ISIN DE000A161NR7) on subscription via the subscription tool DirectPlace on the Frankfurt Stock Exchange. Those interested in subscribing who already hold a Real Money Account at the broker Hanseatic Brokerhouse Global Marktes Ltd (HBGM), which the issuer is currently acquiring, or who open such an account to subscribe to this offer are entitled to make an offer to purchase with a discount of 5 per cent on the price, or EUR 2.47 per new share. This subscription will be made via the NAGA trading app SwipeStox or via the company's website.

The likely listing date of the shares in the Scale segment is planned for 10 July 2017. The gross emission revenues of up to EUR2.6 million are intended to finance the further growth of the company and will be invested in marketing to attract more users to the SwipeStox app, and also in both the company's software and business development.

Against the background of the capital measures successfully completed at the end of the first quarter of 2017, NAGA is already very well financed for the planned growth of the company, which is why the IPO is particularly aimed at improving the company's profile and developing its equity - including as a currency for further expansion.

NAGA wants to change the financial landscape through its technology

The innovative FinTech implements fast-moving technological developments that keep pace with the continuously growing requirements of the financial industry. The company's mission is to develop, promote, and grow pioneering applications in financial technology which will transform the currently outdated financial system and make this new reality more accessible to everybody.

NAGA currently has offices at six locations in three European countries. Furthermore, additional locations in Shanghai and New York will be soon set up in future in order to connect directly with the company's many potential partners in the American and Asian markets.

"The flotation is the next logical step in our so far unexpectedly successful growth story," says Christoph Brück, director of The NAGA Group. Benjamin Bilski, CTO, and thus responsible for technological development, adds: "The technological requirements demanded of the financial industry will increase massively in the future. It is precisely this demand that we meet for the sector, by profitably contributing our IT expertise alongside our know-how in the financial world."

Major Chinese investor & awards confirm growth trend

A major milestone in the company's expansion was achieved just a short time ago. As part of one of the largest series A financing rounds in Europe in the Fintech sector this year, The NAGA Group was able to secure the Chinese investor Fosun as a shareholder. Fosun invests worldwide with a portfolio of over 50 billion US dollars. More than just a highly significant financial partner, Fosun will also support the company as it looks to substantially build up its activities in Asia.

In addition, NAGA has recently won several awards for its innovative technologies. The company was particularly delighted to win the highly prestigious Red Herring Award, of which previous recipients include game-changing giants such as Alibaba, Facebook, Google and YouTube.

SwipeStox, the first success story

NAGA is made up of a highly experienced team with expertise in both the financial markets and the fast-moving world of technological developments. One of the first successful projects of The NAGA Group AG so far has been SwipeStox, the social network for market trading. This trading app offers users an innovative way to trade on the global financial markets within the familiarity of a social media platform. It gives users the opportunity to copy trades made by demonstrably successful traders or to generate followers of their own. Users who successfully introduce new members to the SwipeStox community are rewarded with a bonus, regardless as to whether that new use goes on to make any trades of their own. The SwipeStox system is supplemented with features such as the Trader Radar (displaying the trader's place of residence), discussions about individual trades, news and a TV range. Community considerations and complete transparency are at the forefront of the SwipeStox ethos. The aim is for SwipeStox to ultimately become the world's largest network for stock market trading.

"Switex", the new venture in the pipeline.

The Switex project is another business and technological development with considerable growth potential. In NAGA's assessment, Switex will be the first platform in the world for trading in virtual objects from the computer or online gaming sector (so-called in-game items). Switex is intended to give users the opportunity to trade in and with in-game items through an independent, secure and reliable platform. In this manner Switex wants to offer users a degree of transparency and security that is not currently offered internationally. Switex GmbH is a Joint Venture of The Naga Group AG and Deutsche Börse AG.

Furthermore, there are plans to bring another two FinTech apps online at the end of the year or at the beginning of 2018.




THE NAGA GROUP AG was founded by Yasin Sebastian Qureshi, Christoph Brück and Benjamin Bilski in August 2015. Its mission: to develop, market and grow disruptive applications in financial technology, all of which aim to bring change and open up the existing financial system. The word "Naga" means "Cobra Snake" in Sanskrit and it is the name of the hottest chilli in the world.



The NAGA Group AG

Alexander Braune

Herrengraben 31

20459 Hamburg

E: press@thenagagroup.com


Ingo Janssen

Haus der Wirtschaft

Kapstadtring 10, 22297 Hamburg

T. 040 6378 5410

Email: E: ir@ubj.de


This publication must not be published, distributed or transmitted, directly or indirectly, to or in the United States, Canada, Japan or Australia. This notification is neither an offering nor part of an offering to sell securities nor an invitation to submit an offering to purchase securities in the United States, Canada, Australia, Japan or in other jurisdictions in which such an offering could be subject to restrictions. The offering is made exclusively by and on the basis of the published securities prospectus (including any addenda to this). An investment decision regarding the publicly offered securities of The NAGA Group AG should only be taken on the basis of the securities prospectus. The securities prospectus is available on website of The NAGA Group AG (www. http://thenagagroup.com/) free of charge.

The securities to which this notification relates are not and will not be registered as per the United States of America Securities Act of 1933 in the respectively valid version (the 'Securities Act') and must not be offered or sold in the United States of America, except on the basis of the existence of an exemption from the registration obligation of the Securities Act or within the scope of legal transactions that are not subject to the registration obligation of the Securities Act. No public offering shall be made in the United States of America.

In the United Kingdom this notification and any other notifications in connection with the equities is/are only distributed and is/are only aimed at, and every investment or investment activity that relates to this notification is only provided to, "qualified investors" (as per the definition in Article 86(7) of the Financial Services and Markets Act 2000), (i) persons with professional experience in dealing with investments that come under the definition of a "professional investor" as per Article 19(5) of the Financial Services and Markets Act 2000 ("Financial Promotion") Order 2005 (the "Order") or are (ii) "high net worth entities" that come under Article 49(2)(a) to (d) of the Order (whereby these persons together are described as "Relevant Persons"), and only these may make these investments. Persons that are not Relevant Persons should not carry out any actions that relate to the basis of this notification and should not act on its basis.

This notification contains forward-looking statements that are provided on the basis of current opinions, expectations and assumptions of the management of the company. Forward-looking statements are subject to known and unknown risks that can lead to the actual results, outcomes and events differing materially from those explicitly or implicitly specified or described in this notification. The actual results, outcomes and events can differ materially from those described here, among other reasons due to changes to the general economic environment or the competitive situation, risks in connection with capital markets, exchange rate fluctuations and competition from other companies, changes to foreign or domestic law, in particular those relating to the tax environment that affect the company or by other factors. The company will not assume any obligation to update forward-looking statements.

07.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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