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NAGA Group AG and Capex.com Receive Green Light for Merger

Categories: Broker News | Published by: Rachna Timalsena
11/07/2024
NAGA Group AG and Capex.com Merger

NAGA is one of Germany’s leading fintech companies that provides a SuperApp. This merges social trading, stock investing, crypto, and neo banking into one platform. NAGA has 9 local offices and operates in more than 100 countries. It offers dynamic social feeds and advanced auto copy features that enable users to copy successful traders’ strategies. The platform also has a VISA card for fiat money and which turns your cryptocurrencies. NAGA is intended to create an effective financial ecosystem for personal finance as well as trading across the globe.

Regulatory Approval and Merger Details

The broker was called Naga Group Ag (ETR) whose specialization was retail FX & CFDs social and copy trading announced today that they received all required regulatory approvals to merge with Key Way Group Ltd., operating under the CAPEX.com brand name.

In mid-December, CAPEX.com, a private company, confirmed a deal to buy out NAGA Group by way of a reverse merger. Under this agreement, it is expected that approximately 75% of the merged entity will be owned by shareholders of Capex.com led by Mr Octavian Patrascu.

Strategic Achievement and Future Perspective

At the general meeting of NAGA shareholders on April 12, 2024, the deal was ratified. Merger between NAGA and CAPEX.com is expected to be completed in August 2024. This consolidation will create one of the biggest neo-brokers in the world with a reach of about 1.5 million users in over 100 countries.

Vision for Growth and Invitation to Capital Markets Day

“We have got approval from regulators for merger and future development plans for both firms. This is a big leap towards NAGA’s growth. We are looking forward to developing our joint company further by setting new industry benchmarks.”

NAGA Group AG invites analysts, investors, shareholders, media and partners at its Virtual Capital Markets Day scheduled for July 11th, 2024 at 16:00 CEST. The event will give insights into strategic visions and growth objectives of NAGA Group.

The event will be conducted by Octavian Patrascu who has been acting as CEO of The NAGA Group since January talking about the present performance as well as future prospects of his company and latest out-lookings done by it.

Also read: Webull Teams Up with Apex to Enhance Fixed Income Options

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