Seychelles Securities exchange announces first public offering
Front Cover of SoccerHubb's Prospectus (Trop-X)
(Seychelles News Agency) - The Seychelles Securities Exchange, Trop-X, has announced its first Initial Public Offering (IPO) where the SoccerHubb International Limited Company will offer shares to the public until May 23.
The company will then list in US dollars on the exchange at the end of May 2014, SoccerHubb’s chairman David Bentley told the SNA in an interview.
He said SoccerHubb International is the investment holding company of SoccerHubb limited, a United Kingdom based social network platform that aims to provide the ultimate digital environment for every Soccer/football fan, team and brand associated with the game.
The company is offering 1,386,000 shares at US $1.00 each.
|SoccerHubb’s chairman David Bentley (Trop-X) Photo License: Attribution|
Saying the company will raise most of its money from advertising, Bentley, expressed confidence about the success of Trop-X’s first IPO saying every dollar invested in SoccerHubb limited is expected to earn US $28 in five years, “so even if it yields only half, that will be US $14.”
He called it a high risk high return investment suitable for small and medium enterprises that are not yet big enough to compete with larger companies in other sectors.
“I believe the fact that the company is in the exciting social media space augurs well for the IPO’s success. We are targeting the more than 2 billion football fans aged between 16 and 69 globally with a product that the company hopes to revolutionize the online football space,” added Bentley.
He said Seychelles is an ideal location as it lies between Europe, Asia and Africa with a suitable time zone.
Peter Jardine of Constant Capital (Seychelles) Ltd, the sponsor adviser to SoccerHubb said he believes the timing of the listing is ideal, as it ties in perfectly with the Soccer World Cup in Brazil this year, “when interest in soccer will be at fever pitch.
“In this digital age a platform where soccer fans can interact with each other and draw on the resources offered will be in demand,” he said.
As its first US dollar listing, the Seychelles Securities Exchange’s chief executive Bobby Brantley said he wished the company well in terms of its US dollar capital raising.
“This is the first IPO in Seychelles under the Securities Act 2007. SoccerHubb International is the first listing to the Venture Capital Board which is attracting increasing interest from Africa, Europe and Asia. The regional market lacks a well regulated platform with all of the attributes necessary to attract startup capital and the Trop-X Venture Capital Board fills that void,” added Brantley.
“The combination of the Trop-X equities markets model and advantages offered by the Seychelles legal and regulatory regime results in the ideal capital markets platform to serve the African to Asia corridor not only for startup companies but companies at every stage.”
Trop-X was set up in 2013 and has so far listed three companies.