Fintech PR
MonieWorx Encore Campaign Raises ₦260 Million in 7 Days – funded 10 SMEs in 6 months
- MonieWorx is the largest membership and most active securities crowdfunding platform in Nigeria.
- Recent funding round raised significant capital for seven SMEs in seven days.
- MonieWorx is the poster child for leveraging Africa-originated crowd securities to facilitate online capital formation.
LAGOS, Nigeria, Aug. 29, 2023 /PRNewswire/ — MonieWorx, the SEC regulated crowdfunding marketplace operated by Obelix 4.1.1 Alternative Finance Ltd, a SEC- licenced Operator of regulated markets for investors and issuers of crowd securities, has closed its Encore Campaign, raising an impressive ₦260 million in just seven days. This is a milestone achievement for MonieWorx, its investing and fundraising partners as well as the alternate finance marketplace.
In its pioneer campaign six months ago dubbed “100-in-10”, MonieWorx successfully raised ₦100M for three SMEs in ten days. This created a groundswell that occasioned an encore campaign during with ₦260M was raised for seven SMEs in ten days.
Three of the SMEs that listed debt securities on MonieWorx® during this encore campaign, [i.e. Megavision Lighting Ltd, Online Health Company Ltd and Worthrust Resource Ltd] achieved 100% subscription within six days of listing, while the other four SMEs [i.e. Beehive School Ltd, Jade & Mary Paper Mills Ltd (trading as Cobhams Manufacturing), Sentient XT Creative Services Ltd and 8ight Unique Global Telecoms Ltd] achieved 100% subscription a day after; bringing the encore campaign to closure in seven days after successfully achieving 100% subscription.
This success highlights the commitment of the MonieWorx to creating a viable alternative marketplace for investors seeking safe and viable investment opportunities and SME businesses seeking working and growth capital.
The campaign saw the debut of GCN Crowd Notes, [priced at 19%] – a fixed income product with a cover – that was structured in response to the feedback from the MonieWorx community of investors. Members of this community have lost as much as ₦100 million to ponzi schemes. The design of the GCN Crowd Note is intended to provide principal protection thus assuaging the concern and inoculating against past trauma.
MAX Crowd Notes – the vanilla offering on MonieWorx -was designed for investors who want to optimise their returns and was priced at 21% per annum.
In keeping with one of its unique value propositions of making every Friday a payday, it is noteworthy that the encore campaign ended on Wednesday August 23rd and the first interest payment to investors happened on Friday, August 25th. Payday Friday is a sacrosanct proposition on MonieWorx®
The encore campaign attracted strong interest from Nigerians in diaspora – particularly those resident in the US, India, Canada, the UK, China, Netherlands, Finland, Germany, Austria, and Philippines. In response, MonieWorx engaged this audience by hosting interactive sessions on Instagram Live and X Spaces, ensuring transparency and building the trust necessary to grow the MonieWorx community solidifying transparency and trust as the Campaign progressed.
Adesola Adeyinka, the COO of MonieWorx, commented on the SME selection process as a critical step in protecting investor funds and preserving the platform’s zero default record, “The screening committee admits only established and thoroughly vetted SMEs as fundraisers. Beyond the obvious financial screening, 360-degree references are independently obtained on both the business and its promoters to ascertain that their characters and values are in alignment”. She added further that “in the just concluded cohort, only a fifth of the shortlisted applicants were successful.”
The CEO of Cobham Manufacturing, Adetokunbo Balogun, had this to say: “Raising on MonieWorx is cheaper, faster and way more convenient than raising with a traditional bank.”
A Canada-based investor, Grace Aondona, had this to say: “The essence of investing is to beat inflation, and MonieWorx takes me closer to that goal than any other legitimate investing app in Nigeria.”
Oye Oladejo, who is a doctoral student at De Montfort University in the UK and is currently covering MonieWorx as part of her research study on crowdfunding and alternative financing for MSMEs in Nigeria opined: “The MonieSessions on X and Instagram were very insightful. I see that MonieWorx customer propositions compare favourably with what obtains in other climes.”
Some members of the audience at the X Spaces MonieSessions [August 21, 2023] titled ‘Small Investments Do Add Up: Over 50 million crowdsourced for SMEs in 2 days‘ declared after the event that, “It was engaging and insightful, with great time management. There were no rambling or boring people.”
The success of this encore campaign underscores the power of collective investing, with fundraisers bringing their network to the marketplace, many investors from the pioneer campaign returned in a show of trust while many small ticket first time investors took advantage of low entry ticket price of
₦1,000 with subsequent increments of ₦50 thereafter. The platform’s inclusive approach allowed a diverse pool of investors to participate thus encouraging investment across all income levels and a renewed vigour in the fight against keeping funds idle.
MonieWorx remains steadfast in its mission to provide SME financing and support to Nigerian businesses, facilitating their success and growth. Its dedication to making investments accessible and profitable for Nigerians
regardless of socio-economic standing, continues to drive positive change within the financial sector.
Obelix is an investment-based regulation crowdfunding intermediary incorporated in Nigeria on August 1, 2021, and the operator of a debt-based funding portal branded MonieWorx. The company is licensed under the Investments and Securities Act (ISA) and is regulated by the Securities and Exchange Commission (SEC) of Nigeria effective December 1, 2022.
Its stated objective is to orchestrate an economic exchange and multilayered ecosystem of new sustainable opportunities in Africa. For more information on Obelix’s journey, please visit https://monieworx.com/ or connect with us on social media (handle: our_monieworx), where the most promising SMEs and like-minded investors learn from and support each other, which gave birth to MonieWorx tagline of “People Investing in People.”
Obelix is widely recognized as the pioneer of regulation crowdfunding (Reg CF) and the SME-focused financier of first choice in Nigeria. Crowdfunding is proving itself as a financial solution that speaks to the largest numbers through its simplicity, its transparency, and the service it provides to the local economy and to projects that are meaningful for retail investors.
Historical results are not indications of future results. Certain of the statements contained in this news release may be statements of future expectations and other forward-looking statements that are based on Obelix’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements.
The forward-looking statements contained in this announcement speak only as of the date hereof. Obelix expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking information contained in this announcement. Certain information was obtained from
sources that it believes to be reliable; however, Obelix does not guarantee the accuracy or completeness of any information obtained from any third party.
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
The following files are available for download:
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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EQT AB Group |
View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html
- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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View original content:https://www.prnewswire.co.uk/news-releases/biovaxys-technology-corp-provides-bi-weekly-mcto-status-update-302108920.html
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