Stock Track | Diginex Limited Plummets 12.20% on Debut Following $9.2 Million IPO Pricing

Stock Track

Jan 23, 2025

Shares of Diginex Limited (DGNX), an impact technology company focused on ESG, climate, and sustainability solutions, plummeted by 12.20% in its debut trading session on the Nasdaq Capital Market on Wednesday.

The sharp decline followed the company's announcement earlier in the day regarding the pricing of its initial public offering (IPO) of 2,250,000 ordinary shares at $4.10 per share, raising gross proceeds of $9,225,000. Diginex granted underwriters a 45-day option to purchase an additional 337,500 shares to cover over-allotments.

According to the company, the net proceeds from the IPO are expected to be used for general working capital purposes. Diginex's solutions utilize blockchain, machine learning, and data analysis technology to help organizations address pressing environmental, social, and governance (ESG) issues, as well as climate and sustainability challenges.

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