Diginex Limited closed its IPO, raising $9.225 million by offering 2.25 million shares at $4.10 each.
Quiver AI Summary
Diginex Limited, a Cayman Islands-based impact technology company specializing in environmental, social, and governance (ESG) issues, has successfully completed its initial public offering (IPO) of 2,250,000 ordinary shares at a price of $4.10 per share, raising approximately $9.23 million. The company’s shares began trading on the Nasdaq Capital Market under the symbol "DGNX" on January 22, 2025. Diginex plans to use the proceeds from the IPO for working capital and general corporate purposes. The underwriter, Dominari Securities LLC, has the option to purchase an additional 337,500 shares to cover over-allotments. The IPO's registration statement was approved by the SEC, and further details are available through the final prospectus, which will be filed with the SEC.
Potential Positives
- Diginex Limited successfully closed its initial public offering, raising a total of $9,225,000, which provides significant funding for working capital and corporate purposes.
- The company’s shares began trading on the Nasdaq Capital Market under the symbol “DGNX,” enhancing its visibility and accessibility to investors.
- The Offering included an over-allotment option for underwriters, indicating strong interest and potential for further capital raising.
- Diginex Limited positions itself as a key player in addressing pressing ESG and sustainability issues, leveraging advanced technologies like blockchain and machine learning.
Potential Negatives
- The initial public offering (IPO) raised a modest $9,225,000, which may raise concerns about the company's financial stability and ability to scale its operations effectively.
- The press release emphasizes the use of blockchain and machine learning technologies but does not provide specific details on how these technologies directly contribute to profitability or business growth, potentially leaving investors questioning the viability of its business model.
- The warning about forward-looking statements implies uncertainty regarding the company's future performance, which may deter potential investors seeking stable investments.
FAQ
What is the initial public offering price for Diginex Limited's shares?
The initial public offering price for Diginex Limited's shares is $4.10 per ordinary share.
How many shares were offered in Diginex Limited's IPO?
Diginex Limited offered 2,250,000 ordinary shares in its initial public offering.
When did Diginex Limited begin trading on the Nasdaq?
Diginex Limited began trading on the Nasdaq Capital Market under the symbol “DGNX” on January 22, 2025.
Who were the underwriters for Diginex Limited's IPO?
The underwriters for Diginex Limited's IPO were Dominari Securities LLC and Revere Securities, LLC.
What will Diginex Limited do with the proceeds from the IPO?
Diginex Limited intends to use the proceeds from the IPO for working capital and general corporate purposes.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
HONG KONG, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Diginex Limited (“Diginex Limited” or the “Company”), incorporated in the Cayman Islands, is an impact technology business that helps organizations to address the some of the most pressing Environmental, Social and Governance (“ESG”), climate and sustainability issues, utilizing blockchain, machine learning and data analysis technology to lead change and increase transparency in corporate social responsibility and climate action, today announced the closing of its initial public offering (the “Offering”) of 2,250,000 ordinary shares at a public offering price of $4.10 per ordinary share, for total gross proceeds of $9,225,000, before deducting underwriting discounts, commissions, and other related expenses.
The Company has granted Dominari Securities LLC (“Dominari” or “Representative”), the underwriter, an option, exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 337,500 ordinary shares at the initial public offering price, less underwriting discounts to cover over-allotments, if any. Shares of the Company’s common stock began trading on the Nasdaq Capital Market under the symbol “DGNX” on January 22, 2025.
The Offering was conducted on a firm commitment basis. The Company intends to use the proceeds from the Offering for working capital and general corporate purposes.
Dominari Securities, LLC acted as the representative of the underwriters to the Offering, and Revere Securities, LLC was a co-underwriter. Loeb & Loeb LLP acted as U.S. counsel to Diginex, and Robinson & Cole LLP acted as U.S. counsel to Dominari Securities LLC in connection with this Offering.
A registration statement on Form F-1 (File No. 333-282027) was filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on December 20, 2024. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at
www.sec.gov
. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from Dominari Securities LLC, 725 5th Ave, 23rd Floor, New York, NY 10022, Telephone: (212) 393-4500; Email:
investmentbanking@dominarisecurities.com
.
Before you invest, you should read the registration statement (including the post-effective amendment) and the preliminary prospectus contained therein and the final prospectus, when available, and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Diginex Limited
Diginex Limited is a Cayman Islands exempted company incorporated under the laws of the Cayman Islands in 2024, with subsidiaries located in Hong Kong, United Kingdom and United States of America. Diginex Limited conducts operations through its wholly owned subsidiary Diginex Solutions (HK) Limited, a Hong Kong corporation (“DSL”) and DSL is the sole owner of (i) Diginex Services Limited, a corporation formed in the United Kingdom and (ii) Diginex USA LLC, a limited liability company formed in the State of Delaware. DSL commenced operations in 2020, is headquartered in Hong Kong, and is a software company that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. DSL is an impact technology business that helps organizations to address the some of the most pressing ESG, climate and sustainability issues, utilizing blockchain, machine learning and data analysis technology to lead change and increase transparency in corporate social responsibility and climate action.
Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software For more information, please visit the Company’s website:
https://www.diginex.com/
.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
For investor and media inquiries, please contact:
Diginex
Investor Relations
Email:
ir@diginex.com
Jackson Lin
Lambert by LLYC
Phone: +1 (646) 717-4593
Email:
jian.lin@llyc.global
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