Ad hoc announcement according to Art. 17 Market Abuse Regulations
-The Naga Group AG plans NASDAQ IPO, publishes sales guidance for 2022 and announces changes to its regulated activities in the United Kingdom -
Hamburg, 24th November 2021 - NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for trading, cryptocurrencies and payments NAGA.com, is planning an initial public offering ("IPO") and an associated listing on the US technology exchange NASDAQ for 2022.
NAGA's IPO and listing in the US could be completed as early as the second half of 2022, subject to market conditions and other conditions. Details will be determined by NAGA at a later stage in the process. NAGA expects through the US IPO access to a much broader group of investors and to further significantly strengthen its profile on the capital market.
These efforts are supported by a continuously strong development of the operative business. For the financial year 2022, the company expects consolidated sales of EUR 95 million to EUR 105 million, which corresponds to a approx. doubling of the sales planned for 2021, as well as consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 25 million. up to EUR 30 million.
At the same time, the company announces that its direct business relationships in regards to regulated activities with UK-based customers of the companies within the group are to be terminated in the course of December. The UK's Financial Conduct Authority are aware of this change.
The resulting changes in sales and margins have already been taken into account in the above guidance.
The Company's shares have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release is not for distribution, directly or indirectly, in or into the United States, including its territories and possessions. This release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities.
The NAGA Group AG
Hohe Bleichen 12
T: +49 (0)40 524 77910
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