Oct 10, 2022

Portfolio company JengaX will apply for listing on Euronext NOTC

SPENN Technology A/S has been notified by portfolio company JengaX that JengaX will apply to be listed on Euronext NOTC in Oslo. SPENN Technology has responded positively to such a listing.

Investor News 6/22 

Subject to the valuation of JengaX in a listing process, JengaX is expected to be valued in the range of NOK 375-650 million. SPENN Technology owns 45,89 per cent of the shares in JengaX.

SPENN Technology was made a large owner of JengaX because of a de-merger of subsidiary Blockbonds AS in 2021. Following the de-merger, SPENN Technology planned to transfer JengaX shares to the shareholders of SPENN Technology, but due to legal limitations on specified dividends, SPENN Technology has not been able to make such transactions.

“Immediately after we received information about the potential listing of JengaX, we started the process of enabling shareholders in SPENN Technology to become shareholders in JengaX,” says Bård Bjerkås, Chief Legal Officer of SPENN Technology.

“Pending interest, we will do our utmost to enable shareholders in SPENN Technology to also be shareholders in JengaX prior to the listing of JengaX on the Euronext NOTC,” says Jens Glaso, CEO of SPENN Technology.

For further Information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50, e-mail: [email protected]
Bård Bjerkås, CLO SPENN Technology A/S. Phone: +47 918 05 913, e-mail: [email protected]
Certified Adviser: Baker Tilly Corporate Finance P/S, Att.: Gert Mortensen, Partner. Phone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN

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