Dubai-based Numisbing mulls Stockholm IPO

Bloomberg/Mikael Sjoberg

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The Numismatics and Arts company, with a value of AED 100 million and a regional market share of 75 percent, will be the first from the Middle Eastern region to be listed in any stock exchange.

Wednesday 12, June 2019 BY MUZORIWA KUDAKWASHE

Dubai’s Numisbing has announced that it plans to list on Nasdaq First North Stock Exchange in Stockholm next month.

Ram Kumar, the Founder and Chairman of Numisbing, said, “Our ambition is to expand the company while offering greater value to the shareholders and I’m confident our excellent track record will provide impetus to a good market response.

The proceeds from the initial public offering (IPO) will be invested into collectibles assets and the rest will be used for expansion of the business to other regions.

Numisbing stated that it has also secured AED 58.6 million (SEK 150 million) financing from New York-based GEM Global Yield Fund.

Additionally, the company said that provided that proper due diligence is conducted in building a portfolio, an investment in rare coins could present an opportunity for lucrative returns as the market is limited by nature and as a result, interest continues to grow at a constant upward rate.

 

TAGS : Nasdaq First North Stock Exchange, Numisbing, IPO, GEM Global Yield Fund

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