Diginex Limited announces full exercise of its IPO over-allotment option, raising additional $1.38 million for corporate purposes.
Quiver AI Summary
Diginex Limited announced that on January 27, 2025, underwriters for its initial public offering fully exercised an over-allotment option, purchasing an additional 337,500 shares at $4.10 each, raising an extra $1.38 million. This increased the total shares sold in the offering to 2,587,500, with total gross proceeds reaching $10.61 million. The company, which focuses on addressing key Environmental, Social, and Governance (ESG) issues through technology, began trading its shares on NASDAQ under the symbol "DGNX" on January 22, 2025. Proceeds from the offering will be used for working capital and general purposes. Diginex is incorporated in the Cayman Islands, with operations aimed at enhancing transparency in corporate social responsibility and climate action through innovative technologies.
Potential Positives
- The successful exercise of the over-allotment option increased the total gross proceeds from the initial public offering to $10.61 million, providing additional capital for the company's operations.
- The company's ordinary shares began trading on the Nasdaq Capital Market, enhancing visibility and accessibility to a broader range of investors.
- The press release highlights Diginex's commitment to addressing critical Environmental, Social, and Governance (ESG) issues, which aligns with increasing investor interest in sustainable and responsible investment opportunities.
- The involvement of reputable underwriters and legal counsel in the Offering lends credibility to the company's public offering process.
Potential Negatives
- The company may face scrutiny regarding the effectiveness and transparency of its use of blockchain and data analysis technology in addressing ESG issues, as investors might question the tangible impact of its offerings.
- The initial public offering (IPO) price of $4.10 per share may indicate investor reluctance or skepticism, particularly if compared unfavorably to industry peers.
- The reliance on forward-looking statements regarding the potential success of the offerings introduces risk and uncertainty, which could deter risk-averse investors.
FAQ
What is Diginex Limited?
Diginex Limited is a Cayman Islands-based impact technology business focusing on ESG, climate, and sustainability solutions using blockchain and data analysis.
When did Diginex's shares start trading on Nasdaq?
Diginex's ordinary shares began trading on the Nasdaq Capital Market under the symbol “DGNX” on January 22, 2025.
How much did Diginex raise in the initial public offering?
Diginex raised a total of $10.61 million through its initial public offering after the underwriters exercised their over-allotment option.
What will Diginex use the proceeds from the offering for?
The proceeds from the offering will be used for working capital and general corporate purposes.
Who were the underwriters for Diginex's IPO?
Dominari Securities, LLC acted as the representative of the underwriters, with Revere Securities LLC serving as a co-underwriter for the offering.
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. 27, 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 that on January 27, 2025, the underwriters of its previously announced initial public offering (the “Offering”) have exercised their over-allotment option (the “Over-Allotment Option”) in full and purchased an additional 337,500 ordinary shares of the Company at the public offering price of $4.10 per share, resulting in additional gross proceeds of $1.38 million. After giving effect to the full exercise of the Over-Allotment Option, the total number of ordinary shares sold by the Company in the Offering increased to 2,587,500 ordinary shares and the gross proceeds increased to $10.61 million, before deducting underwriting discounts and other related expenses. The Company’s ordinary shares 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. and Hong Kong counsel to the Company, and Robinson & Cole LLP acted as U.S. counsel to Dominari Securities LLC and Revere 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 was filed with the SEC on January 23, 2025 and available on the SEC’s website at
www.sec.gov
. Electronic copies of the final prospectus relating to this Offering 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, the final prospectus 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 Offering and the use of proceeds. 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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