Azerion Silver State lists in national capital at $1.2 billion market capitalization

Azerion Silver State lists in national capital at $1.2 billion market capitalization

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 Azerion cluster NV, a digital advertising and diversion company, on Wednesday listed in Amsterdam when its acquisition by a special purpose acquisition company (SPAC) referred to as EFIC1 was completed.

Shares within the new entity listed 2.5% lower at 9.29 euros per share, implying a market capitalization for the corporate of around 1.04 billion euros ($1.17 billion).

Azerion, supported in 2014 and headquartered in Amsterdam, makes software system that automates the acquisition and sale of digital advertising, and conjointly makes on-line games and content.

the corporate reportable revenue of 83.5 million euros and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 17.4 million euros for the third quarter of 2021, its most up-to-date coverage period. It forecasts revenue for the complete year 2021 of a minimum of three hundred million euros, an increase of around 28% from 2020, once scrutiny businesses in hand in each years.

Co-founder and chief operating officer Atilla Aytekin aforementioned Wednesday' listing was a vital step for the company to "enter the general public markets and still grow and advance our platform."

Azerion in agreement in Gregorian calendar month to be bought by the SPAC pass former Commerzbank chief operating officer Martin Blessing, formally named European Fintech initial public offering Company one BV.

EFIC1 was listed in March 2021.

As a part of the deal, Azerion received fifty six million euros to be used for growth ANd acquisitions.

Some 74.3% of the company' shares are in hand by Principion Holding BV, an entity controlled by its co-founders.

Credit Suisse and ABN Amro suggested EFIC1, whereas Rothschild, Citigroup and Jeffries advised Azerion.