AvePoint, the 65 Equity Partners-backed global data security firm, announced Thursday its listing on the Main Board of the Singapore Exchange Securities Trading Limited (SGX).
This marks a historic milestone as AvePoint becomes the first business to business (B2B) software as a service (SaaS) stock to be listed on SGX, and the first company to be dual listed on both Nasdaq and SGX, the firm said in a statement.
“Our SGX listing is an exciting step in AvePoint’s ongoing global expansion, broadening our customer, partner, and investor base as the demand for our data protection technology increases,
“Trading on SGX complements our presence on Nasdaq, allowing AvePoint to expand especially as we witness the surge of technological advancement and innovation in Singapore,” said Dr. Tianyi Jiang (TJ), Chief Executive Officer and Co-Founder, AvePoint.
AvePoint established its initial presence in Singapore in 2009, and Singapore now serves as the company’s Asia Headquarters and International R&D Hub, fueling innovation in data security, governance and resilience.
The company continues to expand its global footprint, solving data protection challenges for organizations around the world.
“SGX is pleased to welcome AvePoint to our stock market. Its dual listing on SGX reflects AvePoint’s strong track record in Asia Pacific and its strategy to broaden its investor base across the region,
“This milestone also underscores Singapore’s stature as a trusted, international hub at the intersection of capital and innovation, an increasingly vital venue for global technology leaders tapping into Asia’s dynamic growth,” said Loh Boon Chye, Chief Executive Officer, SGX Group.
AvePoint’s SGX listing complements its established presence on Nasdaq, where the company initially went public in 2021.
“AvePoint makes history today as the first company to achieve a dual listing on both Nasdaq and SGX, which is a proud moment for us all,
“Since their Nasdaq listing in 2021, AvePoint’s journey has been marked by innovation, growth, and leadership in technology,” said Bob McCooey, Vice Chairman, Nasdaq.
“This milestone not only deepens our longstanding partnership but also highlights the global reach and ambition that defines both AvePoint and Nasdaq,
“We are excited to support AvePoint as they continue to expand their impact worldwide, and we wish the entire team great success in this next phase of growth,” he added.
Concurrent with the SGX listing, AvePoint completed a successful secondary offering of shares of its common stock, which was more than three times oversubscribed.
Forty institutional investors were ultimately allocated shares in the offering, with strong support from long only investors, which allowed for pricing from the midpoint of the range at S$19.50 ($15.19) per share.