Social Chain makes ‘groundbreaking’ debut in the premium segment of German stock exchange
Social Chain, which was founded by Manchester entrepreneurs Steven Bartlett and Dominic McGregor, has today successfully listed in the premium segment of the German stock exchange in ‘groundbreaking’ step for the group.
The company has now joined the Prime Standard of the Frankfurt Stock Exchange which will pave the way for the expansion of its Social Commerce platform giving brands the chance to sell direct to consumers through social channels.
All 11.4m shares previously traded on the Open Market of the Düsseldorf Stock Exchange have been upgraded.
That is also in addition to 2.8m new shares, which serve as a non-cash capital increase for part of the purchase price payment for the takeover of German business DS Group by Social Chain AG.
Wanja S. Oberhof, CEO of Social Chain AG: “The initial listing in the Prime Standard of the Frankfurt Stock Exchange is more than just a milestone.
“The listing of Social Chain AG in the premium segment of the leading German stock exchange is based on our growth and innovative business model – a groundbreaking step for our company and our shareholders.
“In addition, Social Chain shares will also be attractive to completely new groups of investors.
“It gives us further entrepreneurial flexibility for our buy & build strategy. Future investment priorities focus on further expansion of our internationally scalable Social Commerce platform, the acquisition of young brands and Social Commerce-savvy products.”
In a social media post this morning, founder Steve Bartlett said: “This morning I had the tremendous honour of ringing the bell as Social Chain joined one of the largest stock markets in the world and celebrated the start of its next chapter.
“We started Social Chain 7 years ago at 21 years old, in the university I had just dropped out of in Manchester. We were kids – kids that believed in the untapped potential of social media and kids that most importantly believed in ourselves.
“7 years later, we’re adults now, and the company has grown up too: 1,400 team members, $700m of revenue this year, and at the start of its debut on one of the world’s largest stock markets.”
Christian Senitz, Social Chain AG’s CFO, added: “The listing in the Prime Standard is good news for all Social Chain AG shareholders.
“It reflects the entrepreneurial development of the last few years and, above all, our strategic look ahead.
“The listing in the Prime Standard of the Frankfurt Stock Exchange facilitates our access to the international capital market.
“For many institutional investors, belonging to this premium segment is a basic requirement for an investment. I am proud that, with a powerful team, we have made Social Chain AG fit for Europe’s highest level a listed company can reach within only six months.”