InvestorWire NewsRoom

Article

Tingo Inc. (IWBB) Seeks to List Shares on NYSE; Seeks to Capitalize on Strong Investor Demand for Peer Companies
November 10, 2021

Tingo Inc. (IWBB) Seeks to List Shares on NYSE; Seeks to Capitalize on Strong Investor Demand for Peer Companies

  • Tingo Inc has recently submitted its application to list its shares on the New York Stock Exchange
  • The company has sought to increase overall liquidity in their shares and drive shareholder returns
  • Peer companies operating within Tingo Inc’s business verticals have enjoyed outstanding returns this year, a testament to the growth in demand for sectors such as e-commerce marketplaces and fintech services

Tingo (OTCQB: IWBB), a digital service agri-fintech technology company focused on foundation-level agriculture and related financial services in Africa, recently revealed that it has applied to list its shares for trading with the New York Stock Exchange (“NYSE”), forming part of the company’s efforts to broaden its appeal to U.S. and international investors. Whilst there are no guarantees that its listing application will be accepted, the Company has reiterated its belief that it will satisfy the NYSE’s initial listing criteria.

Dozy Mmobuosi, CEO of Tingo commented regarding the listing application, “I am pleased to announce our plans to list on the New York Stock Exchange. This is an important step forward for Tingo. The NYSE is the main stock exchange the United States and one that will raise our profile to the broader investment community. The bottom-up list will increase liquidity in our stocks and ultimately create shareholder value in line with our international peer groups.”

Tingo Inc has based its unique business model around four core pillars, namely – device as a service, mobile voice and data services, the Nwassa Marketplace Platform and Tingo Pay, all of which provide the parent company with exposure to some of the fastest growing sub-sectors within the listed equity universe. However, the African continent’s e-commerce industry still finds itself at a relatively nascent stage; despite being home to a youthful demographic, online retail revenues in Africa accounted for only $20 billion in 2020, equivalent to 3.5% of total retail sales. In absolute terms, that would place the African continent’s e-commerce expenditure below the likes of Australia, despite boasting a population on par with that of China. 

Tingo Inc’s planned NYSE listing provides global investors with access to a rare and diversified investment opportunity within the African continent, with investors previously constrained when seeking to gain exposure to the latter geography (https://ibn.fm/nLqVp)

The company’s prospects however look extremely bright, when compared to its peers; online marketplaces and fintech focused firms have all enjoyed a stellar run thus far this year. South Africa’s MTN Group (JSE: MTN), Africa’s largest mobile operator, has seen its shares appreciate by over 130% year-to-date whilst dLocal (NASDAQ: DLO), a Uruguay-based, emerging markets focused payment platform has seen its shares nearly double since listing in early June, giving the company a market capitalization of over $16 billion.  

With a stated aim of being into Africa’s leading agri-fintech company, focused on driving financial inclusion, social betterment, and wealth creation within Africa’s agricultural sectors, Tingo Inc ranks amongst the rarest of companies – driving social change whilst simultaneously, boosting shareholder returns. 

For more information, visit the company’s website at www.TingoGroup.com

NOTE TO INVESTORS: The latest news and updates relating to IWBB are available in the company’s newsroom at https://ibn.fm/IWBB

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).