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- App-building company AppsVillage (APV) is planning to dual list on the TSX Venture Exchange (TSXV) in Canada
- This dual-listing will aim to expand the company’s exposure to a wider range of investors and increase trading volumes and coverage
- To help with the dual-listing process, AppsVillage has secured a US$500,000 (around A$640,960) convertible loan
- The loan was signed with 12.64 Fund which is operated by the Israeli investment bank, A-Labs Advisory & Finance
- The completion of listing on the TSXV is subject to shareholder approval, the satisfaction of listing requirements and receipt of approval from the TSXV
- That said, AppsVillage has not yet make an application to dual list nor has it received conditional approval from the TSXV
- Company shares are up 4.38 per cent on the market and are trading at 8.4 cents
App-building company AppsVillage (APV) is planning to dual list on the TSX Venture Exchange (TSXV) in Canada.
This dual-listing will aim to expand the company’s exposure to a wider range of investors and increase trading volumes and coverage.
To help with the-dual listing process, AppsVillage has secured a US$500,000 (around A$640,960) convertible loan.
The loan can be increased to US$1.5 million (around A$1.92 million) and is for a six-month period.
The loan was signed with 12.64 Fund which is operated by the Israeli investment bank, A-Labs Advisory & Finance.
A-Labs has been responsible for multiple NASDAQ and TSXV initial public offerings (IPO) in the recent years.
“AppsVillage is one of those companies we believe to be significantly undervalued and are sometimes overlooked by investors due to geographical or other reasons,” A-Labs CEO and Managing Partner Doron Cohen said.
“We made it our business to invest in such companies we consider to be a ‘diamond in the rough’ and follow through with management until significant value has been created for all shareholders and long-term sensible investors,” he added.
The completion of listing on the TSXV is subject to shareholder approval, the satisfaction of ASX and TSXV listing requirements and receipt of approval from the TSXV.
All that said, AppsVillage has not yet make an application to dual list nor has it received conditional approval from the TSXV.
“We feel we can better serve our ASX investors with a dual listing in North America that may drive further interest and following from global investors,” AppsVillage CEO Max Bluvband stated.
“A-Labs has a proven track-record in building unicorns and we are excited by their interest in our company,” he concluded.
AppsVillage is up 4.38 per cent on the market and shares are trading at 8.4 cents at 1:47 pm AEST.
