Fintech group Ayondo makes debut on SGX Catalist board

Global fintech group Ayondo yesterday made its debut on the Singapore Exchange (SGX) Catalist board, closing unchanged at its initial public offering (IPO) price of 26 cents.

The first fintech company to be listed on the Singapore bourse, Ayondo offers social trading and brokerage services to both business-to-consumer and business-to-business clients through two proprietary platforms: WeTrade and TradeHub.

TradeHub is for self-directed trading, while WeTrade is for social trading, where traders can view one another's portfolios and trading performance, share and follow one another's investment strategies.

The group offers contract for differences and spread bet trading across various markets and financial products such as forex, treasuries, cryptocurrencies and shares.

Educational and casual trading services will also be offered by its partners via mobile applications.

Its IPO drew roughly 41/2 times as many applications as there were shares in the public tranche. - THE STRAITS TIMES