Ayondo, a UK-based online trading services provider backed by media group ProSiebenSat.1, is set to list on the Singapore Exchange at a valuation of $158m.
Founded in 2005, Ayondo operates an online trading platform for individuals investing in contracts for difference and spread betting, as well as a social trading platform.
SevenVentures, the corporate venturing vehicle of ProSiebenSat.1, contributed to a CHF9m ($9.1m) funding round in 2014 alongside private equity firm Luminor Capital as the corporate entered into a partnership with the startup.
Luminor led a CHF6m funding round for Ayondo in 2015 with participation from unnamed, existing investors. Ayondo founder Stefan Willebrand sold the majority of his stake in 2009 and placed the remainder into investment firm Willebrand Invest, and Ayondo has not confirmed additional funding details.
Ayondo’s listing on the stock exchange was first rumoured in April 2016, when reports suggested the company would conduct a reverse merger with an undisclosed business that was already listed. There was no mention of a reverse merger in the latest press release however.