Safello Planned Initial Public Offering (IPO) Oversubscribed by 1,240%
May 5 2021 · 13:51 UTC by Kofi Ansah · 2 min read
Frank Schuil, Safello CEO. Photo: Timan Rebel / Flickr Share this article
You have successfully joined our subscriber list.
Shares of Safello Group are expected to start trading on Nasdaq First North Growth Market under the ticket SFL on May 12, 2021.
Safello Group, the Swedish cryptocurrency broker, has announced that its initial public offering (IPO) has recorded an oversubscription of 1,240%. The company’s initial offering of new shares worth 40.5 million Swedish kronor (almost $4.8 million) was met with subscription bids of up to 502 million kronor ($59 million) worth of shares.
Time Magazine has included two top crypto firms in its “top 100 most influential companies of 2021” list.
What Happened: Coinbase Global Inc (NASDAQ:COIN) was included under the category “Titans” after its public debut on the Nasdaq turned out to be the largest direct listing in history with the company valued at $86 billion.
“It’s been a huge year for cryptocurrencies, but nothing’s been as validating as the April 14 direct listing of Coinbase, which operates an exchange where 56 million users buy and sell Bitcoin and more,” stated Time.
Time also named
Digital Currency Group (DCG), the asset manager behind the world’s largest Bitcoin trust, in its most influential list.
Liberia: LCC President Questions The Rationale Behind The Printing Of New Liberian Bank Notes
Liberia: LCC President Questions The Rationale Behind The Printing Of New Liberian Bank Notes
Share
Bishop Brown observed that there are mounting concerns within the public on the whereabouts of monies printed during the administration of ex-Liberian President Ellen Johnson-Sirleaf, and the present regime of President George Manneh Weah
MONROVIA – As the signing of a Joint Resolution by members of the National Legislature for the printing of L$48million remain in limbo, the Liberia Council of Churches (LCC), through its President Bishop Kortu K. Brown has termed as a form of “gambling” the move being made by the Coalition for Democratic Change (CDC) led-government of President George Manneh Weah to print new family of Liberian currency without the submission and clear understand of a full report on the total amount of money in circulation by the Central Bank of Liberia (CBL).
ALL political parties that remain in power for too long suffer the same inevitable fate. They run out of ideas. They become tired and drained of energy, floundering around in a hotbed of incompetence, sleaze and scandal, trying to cling on to power by passing bad legislation. Convinced after years in office of their sole right to rule, they display arrogance and contempt for the parliamentary process. Is all of this familiar? You need look no further than the SNP government at Holyrood. Their 14 years in power descended into a chaotic storm of vicious infighting within their own ranks. Scotland’s economy now faces post-pandemic meltdown and yet the SNP government’s focus is on holding another independence referendum, while the First Minister and her immediate predecessor continue to tear lumps out of each other.
The massive valuation, which dwarfs more traditional financial companies including Intercontinental Exchange Group Inc. and Nasdaq Inc. itself, is a landmark moment for the crypto industry and for Coinbase, which was started almost a decade ago when few people had even heard of Bitcoin, and many exchanges were run by amateurs from their garages and homes.
Coinbase shares closed at $328.28, down 14% from the $381 opening price on Nasdaq after earlier climbing as high as $429.54. At the closing price, the company’s valuation on a fully diluted basis is about $86 billion.
Bitcoin, which along with Ethereum made up 56% of Coinbase’s 2020 trading revenue, dipped below $62,000 after earlier hitting a record price.