During the debut trading on the canadian TSX Venture Exchange slipped sharply in the share price of commercial Bank Galaxy Digital LP, according to CNBC.
So, first of August assets led by Mike Novogratz of kleptomanka opened on the TSX Venture Exchange at a price of 2.75 canadian dollars ($2.11 / share) per share. However, within half an hour the stock Galaxy Digital LP fell by 20%, to the level of 1.98 CAD ($1.52 m).
Scriptbank Galaxy Digital LP is presented on a canadian stock exchange TSX Venture as ‘Galaxy Digital Holdings Ltd’. The stock has a Ticker GLXY.
The launch of the Galaxy Digital was postponed on the TSX Venture due to the lack of duly audited statements for the two years, which is required to conduct an initial public offering (IPO). A supporter of cryptocurrencies and the billionaire has solved this problem by using so-called reverse takeover. So, first he bought Coin cryptocurrency startup Capital. Then it merged with a shell company Bradmer Pharmaceuticals, the shares of which were represented on the canadian exchange.
TSX is the largest stock exchange in Canada and the third largest in North America after NYSE and Nasdaq.
ForkLog previously reported that by the end of first quarter unrealized losses Galaxy Digital LP totaled $134 million.