The NAGA Group AG Plans NASDAQ IPO

NAGA Group AG, the provider of the social network for trading, cryptocurrencies and payments NAGA.com, is planning an initial public offering ("IPO") and an associated listing on the US technology exchange NASDAQ for 2022.

NAGA's IPO and listing in the US could be completed as early as the second half of 2022, subject to market conditions and other conditions. Details will be determined by NAGA at a later stage in the process. NAGA expects through the US IPO access to a much broader group of investors and to further significantly strengthen its profile on the capital market.

These efforts are supported by a continuously strong development of the operative business. For the financial year 2022, the company expects consolidated sales of EUR 95 million to EUR 105 million, which corresponds to a approx. doubling of the sales planned for 2021, as well as consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 25 million. up to EUR 30 million.

At the same time, the company announces that its direct business relationships in regards to regulated activities with UK-based customers of the companies within the group are to be terminated in the course of December. The UK's Financial Conduct Authority are aware of this change.

NAGA has completed a fresh share placement, raising additional €34 million in growth capital.