(Boursier.com) — The listing of 814,265,232 ordinary shares of TaTaTu on Euronext Growth Paris was carried out following a private placement, as part of the company’s initial public offering. The reference price was set at 2 euros per share. The market capitalization of the company stands at 1.6 billion euros on the day of listing. The title already quotes 2.40 Euros, after trading at 2.77 Euros.
TaTaTu is the first social media and entertainment app that rewards users for the value they help create with time spent on the platform.
The platform issues TTU Coins, exclusive loyalty points that can be redeemed by users during auctions, and thus have the chance to win exclusive experiences or products, or on the e-commerce site and soon in a selection of affiliated local merchants.
Andrea Iervolino, Founder and CEO, has been developing the platform since 2018 “with the aim of empowering users, to promote social good and community building”.
“Through this direct listing, TaTaTu intends to continue shaping the future of social media and encouraging positive developments within the media and entertainment industry,” the company explains.
TaTaTu is also joining the Euronext Tech Leaders segment launched by Euronext last June. The Euronext Tech Leaders initiative includes several complementary components, including the creation of a segment bringing together more than a hundred European companies listed on the Euronext markets, and the Euronext Tech Leaders index made up of stocks from this segment, a offer of visibility and promotion services for Euronext Tech Leaders to international investors, improved trading conditions, and the creation of a community of Tech Leaders through the creation of a C-level Club and the organization of Euronext Tech Leaders Campus which aims to become the annual meeting place for Tech companies in Europe.
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