Swedish crypto broker's IPO oversubscribed by 1,200%
Stockholm-based crypto brokerage Safello saw its IPO oversubscribed by nearly $60 million, or 1,240% from the planned $5 million. Safello, a Stockholm-based cryptocurrency brokerage, is seeing massive demand from investors for its upcoming initial public offering on the Nasdaq First North Growth Market.The company said Wednesday that its planned IPO was oversubscribed by 502 million Swedish krona ($59.3 million), up 1,240% from the planned 40.5 million krona ($4.8 million), Reuters reports.Safello CEO Frank Schuil said that the company expects its listing on the Nasdaq First North Growth....
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