Digital currency company Diginex is going public on the Nasdaq stock exchange in September via a reverse merger. The Hong Kong-based firm is merging with 8i Enterprises Acquisition Group ($JFK) to go public.
The deal between the two companies was first announced in July 2019, and Diginex was expected to begin publicly trading in March 2020; however, COVID-19 delayed the merger and the public listing of the company.
The SEC recently re-approved the listing, and Diginex shareholders will vote on the decision on September 15. If all is well, Diginex will merge with 8i Enterprise Acquisition Group between September 20-23, and the current 8i Enterpriser Acquisition Group ticker symbol $JFK will be replaced by a new ticker symbol that better represents Diginex.
The first digital currency exchange to go public?
Diginex has launched a digital currency exchange, EQUOS.io that offers spot and derivatives trading as well as over-the-counter trading services and digital currency custody services. That being said, if and when Diginex goes public, it will make Diginex the first publicly traded digital currency exchange—beating Coinbase to the punch.
Coinbase was recently reported to be making preparations to IPO. According to individuals familiar with the matter, the digital currency exchange expected to start trading on a U.S. stock exchange as early as late 2020 or early 2021.
Although Coinbase will still be the first United States-based digital currency exchange to go public, if the Diginex shareholders approve the Diginex/8i Enterprise Acquisition Group merger in September, then Diginex will be the very first digital currency exchange that is publicly traded.
When the deal was initially announced in July 2019, Diginex was valued at $276 million, and the company planned to issue 20 million shares at roughly $10 per share. However, the company will most-likely be revalued before it begins publicly trading in September.
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