Longfin, an electronic market maker and trading platform focused on the Asia-Pacific region, announced its plans to list on the Nasdaq via a Regulation A+ IPO. The deal will be marketed on a best efforts basis and will not be included in our IPO stats.
The New York, NY-based company plans to raise up to $50 million by offering 10 million shares at a price of $5. If fully subscribed, Longfin would command a market value of $388 million and an enterprise value of $341 million (12x 2016 sales).
Longfin was founded in 2014 and booked $28 million in sales (22% net margin) for the 12 months ended December 31, 2016. Network 1 Financial Securities is the sole bookrunner on the deal. A pricing date has not yet been determined.
