Genius Group Pursues Dual Listing in Asia, Shares Rise 3%

Genius Group, a Singapore-based education company, announced plans to pursue a dual listing on an Asian exchange, sending its shares up over 3% in premarket trading. The company's board of directors approved the move on August 8. Genius Group has been listed on the NYSE since 2021.

Genius Group Limited (NYSE American: GNS), a Singapore-based education company, has announced plans to pursue a dual listing on an Asian stock exchange, sending its shares up over 3% in premarket trading. The company's board of directors approved the move on August 8, 2023 [1].

The decision comes as Genius Group seeks to provide easier access for shareholders in Asia and Oceania to invest in the company. Prior to its initial public offering (IPO), the majority of Genius Group’s shareholders were based in these regions. The dual listing could potentially offer increased liquidity, fair price discovery, and 24-hour trading for shareholders in North America and Europe [1].

Roger James Hamilton, CEO of Genius Group, noted that the company has received interest from Asia-based investors seeking access to its shares via a regional exchange. The selection process for the most suitable exchange is expected to take two to three months. The company is considering several potential markets for the dual listing, including South Korea, Australia, Malaysia, Thailand, Hong Kong, and Japan [1].

Genius Group, which provides AI-powered education solutions with operations in over 100 countries, has shown remarkable momentum, with InvestingPro data showing a 101% return over the past six months. The company has been listed on the NYSE American since April 2022, with a market capitalization of $83 million [1].

In addition to the dual listing plans, Genius Group has completed its acquisition of Entrepreneur Resorts Ltd. with an overwhelming 99.97% shareholder approval from ERL. The company has also repurchased one million shares at an average price of $1.15 per share, marking its second buyback since receiving approval to repurchase up to 20% of its issued shares. Genius Group has also increased its Bitcoin holdings by 23%, now holding a total of 148 Bitcoin [1].

The developments reflect ongoing strategic initiatives by Genius Group to strengthen its financial position and shareholder value. The company has informed shareholders about the direct registration of shares with its transfer agent to combat short selling [1].

References:
[1] https://www.investing.com/news/company-news/genius-group-to-pursue-dual-listing-on-asian-exchange-93CH-4184974