SINGAPORE (Aug 26): Ayondo Holding, which bills itself as a fintech play, is planning to list on the local bourse through a reverse takeover (RTO) of suspended Catalist-listed real estate developer Starland Holdings.

On June 20, Starland inked a conditional sale and purchase agreement to acquire Ayondo for $157.5 million by issuing new shares. That is equivalent to about nine times the revenue Ayondo achieved last year.

Ayondo provides business-to-consumer (B2C) and business-to-business (B2B) social trading and brokerage services for contracts for difference (CFDs) — financial derivatives that allow investors to profit from changes in the value of an underlying asset.

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