Southeast Asian Fintech Seize may pursue an preliminary public providing (IPO) throughout 2021, in keeping with a report.
Fintech is predicted to be a scorching sector for preliminary public affords this 12 months with two already being accomplished. Final week, Affirm (NASDAQ:AFRM) blew the doorways off its IPO. Priced at $49 a share Affirm traded at practically double ending the day at $97.24 a share. Affirm has traded as excessive as $137+ a share.
Simply previous to Affirm, fast-growing Fintech SoFi introduced it will turn into public by way of a SPAC (particular goal acquisition firm) – a well-liked path to buying and selling shares on an exchange that requires much less preliminary disclosure. The SPAC deal was reported to be valued at $8.65 billion.
Many extra Fintech IPOs are stated to be within the works.
Seize is an fascinating Fintech. Based in 2012 in Kuala Lumpur, Malaysia, the corporate began as a ride-hailing and meals supply enterprise that has morphed into a number one Southeast Asian Fintech.
In 2020, Seize, together with associate Singtel, acquired one in every of 4 preliminary digital banking licenses in Singapore. Seize holds a 60% stake within the consortium entity whereas Singtel holds 40% possession. The consortium expects to formally launch the digital bank in early 2022.
Final week, it was reported that Seize Monetary Group (GFG) – primarily based in Singapore, secured greater than $300 million in capital by means of its Collection A funding spherical – which was led by Hanwha Asset Administration Co. Ltd., a South Korea primarily based asset administration agency.
Based on Reuters, sources declare that Seize might increase as much as $2 billion in a public providing. The IPO is claimed to be seen within the context of a scorching marketplace for public choices and Fintech on the whole. Not too long ago, CI printed an inventory of anticipated Fintech IPOs for 2021 out there right here (and lacking Seize).