ayondo – The first FinTech company listed on Singapore Exchange on 26-Mar-2018, is celebrating its first trimester of listing.
Share price of ayondo, however, was down nearly 15% today and closed at $0.075.
Over the 3 months of listing, share price of ayondo has down 71% from the IPO price of $0.26. 🙈
One in four investors say they are considering Social Trading in 2018
Ayondo made a press release last week on 20-Jun (link) via SGX on a survey of UK equity investors, titled “One in four investors say they are considering Social Trading in 2018”, and cited
“A survey of UK equity investors reveals: A third (33%) say a traditional stockmarket approach is overcomplex, which can be simplified by automatically following Top Traders.”
According to the survey, when asked what prevented them from being more successful investors,
almost half (44%) cited their lack of knowledge and experience of the markets, while
a third (33%) said that investing was too complicated,
a similar proportion (32%) said that they were held back by time constraints.
52% of respondents stated that they always refer to the opinion of experts or peers before making any investment decisions.
Interestingly, the survey conducted with 500 UK adults was carried out in Feb 2018, but published only 4 months later.
Reading it again, it made SGX observer wonder it should be
A third (33%) say : ” a traditional stockmarket approach is overcomplex, which can be simplified by automatically following Top Traders.”
A third (33%) say : ” a traditional stockmarket approach is overcomplex “, and ayondo added ” which can be simplified by automatically following Top Traders.”
Somehow, such announcement reminded SGX Observer the announcement made by Yuuzoo before (link) 🤫
ayondo introduced a more efficient way of communicating
What’s more interesting is… ayondo published another ‘shareholder communication’ today via SGX this evening that the company would like to “introduce a more efficient way of communicating with its shareholders.” (link)
The Company has been made aware by some of the shareholders that they have not seen the two latest press releases dated 9 May 2018 and 31 May 2018 regarding the unaudited financial statements for the first quarter ended 31 March 2018 and the new member of the Company’s Executive Committee, Ms. Mita Natarajan, the Chief Business Development Officer based in Singapore, respectively. Both press releases can be found on the Investor Relations page on the Company’s website (http://www.ayondogroup.com).
Going forward, the Company wishes to ensure that its shareholders receive communication about results, news and key developments in a fast and seamless way. The shareholders may therefore visit the Investor Relations page on the Company’s website to sign up to receive emails and contact the Company.
SGX Observer visited the investor relation page and found out that unlike the investor relation page of other companies that typically just show the replicated announcements made via SGX, it is indeed a more efficient way of communicating announcements that ayondo thinks the shareholders should know but can’t be shared via SGX efficiently. 👏🏼
3-month listing milestone
🎂 3 months of listing is a significant milestone, because as part of UOBKH’s fees as the Sponsor and Issue Manager, ayondo has issued 2,548,658 shares to UOBKH, and UOBKH has undertaken not to, directly or indirectly, sell, contract to sell, offer, realise, transfer, assign, pledge, grant any option to purchase, grant any security over, encumber or otherwise dispose of, any part of its shareholdings in the share capital of our Company immediately after the Invitation for a period of three (3) months commencing from the Listing Date.
Anyway, according to ayondo’s FY18 Q1 unaudited financial statement (link), the net asset value per ordinary share based on issued share capital (CHF) = 0.07. So the downside of ayondo’s share price should be ‘limited’.