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CoinShares raises $ 80 million in its public offering for European markets

The firm CoinShares, one of Europe’s leading cryptocurrency investment managers, began listing its shares on the Swedish stock markets last week.

With the offering of 3,364 .403 shares, each valued at 44.90 Swedish crowns (SEK), the firm aimed to raise SEK 151 million, equivalent to USD 17.8 million. But CoinShares revealed that the offering was exceeded by 447%, raising 675 million SEK, about USD 80 million invested by 2,280 new investors (shareholders) of the company.

The offer was launched on March 11 and closed on March 12, 2021, the following day. Right now the share per unit costs SEK 111, almost triple the initial price (SEK 44.90), according to Nasdaq.

In a press release, Jean-Marie Mognetti, Coinshares CEO expressed his enthusiasm regarding the future of the company:

“As investors look for new ways to earn exposure to the expansion of digital assets, your response to our Initial Public Offering (IPO) is an encouraging sign for our future at Nasdaq, as well as evidence of the growing interest in the digital asset ecosystem ”.

Jean-Marie Mognetti, CEO of CoinShares.

As read in another publication by CoinShares , the Nasdaq First North Growth market allows smaller companies to offer their shares to the market, with less regulatory pressures. This market works in Denmark, Finland and Sweden, they say.

Previously, at the end of last February, CoinShares published a statement where it assured that the ticker or identifier of its asset would be “COIN”, but then changed it to “CS” as Coinbase was waiting to be able to use this denomination as well.

That same month, CoinShares launched an Ethereum investment fund in the exchange house Swiss SIX, as announced, which already manages more than USD 75 million in assets. The company has 69,730 BTC in savings , according to BitcoinTreasuries.org.

Also, CriptoNoticias reported on the launch of another index that follows the price of bitcoin, ether and tether.

The company CoinShares International Ltd provides services to investors in cryptocurrencies, providing them with “trust and transparency”, but also other services such as consulting, trading strategies and market statistics, reads its Nasdaq profile.

CriptoNoticias also reported the recent launch of an asset-based index of decentralized finance (DeFi), aimed at institutional investors.

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Sandra Loyd
Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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