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Swedish crypto broker’s IPO oversubscribed by 1,200% Stockholm-based crypto brokerage Safello saw its IPO oversubscribed by nearly $60 million, or 1,240% from the planned $5 million. 7762 Total views News Safello, a Stockholm-based cryptocurrency brokerage, is seeing massive demand from investors for its upcoming initial public offering on the Nasdaq First North Growth Market. The company said Wednesday that its planned IPO was oversubscribed by 502 million Swedish krona ($59.3 million), up 1,240% from the planned 40.5 million krona ($4.8 million), Reuters reports. Safello CEO Frank Schuil said that the company expects its listing on the Nasdaq First North Growth Market in Stockholm on May 12. The executive told Cointelegraph that the allocation rules were set in the prospectus, and Safelo followed those rules. “Our approach has been to create the widest distribution after pre-subscription in the spirit of decentralized ownership,” Schuil said.

Frank schuilSwedish financial supervisory authorityBarry silbert digital currency groupNasdaq first north growthNasdaq first north growth marketNasdaq first northBarry silbertDigital currencyUnited stateNasdaq global select marketMajor europeanவெளிப்படையான ஸ்சுல்ஸ்விட்ச் நிதி மேற்பார்வை அதிகாரம்பாரி சில்பர்ட் டிஜிட்டல் நாணய குழுநாஸ்டாக் முதல் வடக்கு வளர்ச்சிநாஸ்டாக் முதல் வடக்கு வளர்ச்சி சந்தை