Related Reading Elsewhere in the crypto market, merchant bank Galaxy Digital is also in the process of U.S. listing. The firm is already public in Canada via the Toronto Stock Exchange. Crypto exchange Gemini is also considering going public. Source www.theblockcrypto.com
Safello first announced its intention to go public on February 16. Last month, the firm received preliminary approval from Nasdaq Stockholm for listing on Nasdaq First North. The IPO subscription opened from April 19 through April 30. The listing is now expected on May 12 under the ticker SFL. “We are thrilled to see the great interest in Safello’s shares and what it signals for the future of our industry,” said Safello co-founder and CEO Frank Schuil. “The prospect of a cryptocurrency-based financial system is picking up steam in Sweden and beyond.”
Last month, U.S. crypto exchange Coinbase went public on Nasdaq via direct listing, becoming the largest direct listing in history. Coinbase rival Kraken could also go public via direct listing next year. The oversubscription means there was a high demand for Safello’s shares, but the firm will allot only $4.8 million worth of shares to some 1,500 new shareholders.
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