NAGA and CAPEX.com Merger Gets Shareholders Nod: 2 New Licenses in Pipeline

The shareholders of publicly listed NAGA GROUP AG (XETRA: N4G) have approved the merger of the broker with CAPEX.com. As many as 99.81 percent of the NAGA shareholders voted in favor of the merger at the extraordinary general meeting held on April 12.　　Expansion Plans　　The press release today (Monday) further revealed that the Hamburg-listed broker is seeking two additional regulatory licenses, which are in the process of approval. However, it did not specify the jurisdictions of the sought-after licenses.　　Currently, NAGA and CAPEX hold nine regulatory licenses together.　　“Securing this vote will allow us, after the regulatory approvals for the merger, to execute the new business plan,” Octavian Patrascu, the new CEO of the NAGA Group, said in a statement. “We are expanding the global reach of NAGA and upgrading the SuperApp to offer a true all-in-one user experience, unique in the world of Fintech.”　　A Strategic Merger　　NAGA and CAPEX.com agreed to the merger last December. Under the agreement, Patrascu, the founder and CEO of CAPEX.com, was appointed as the Group CEO of the merged entity. He also injected $9 million into NAGA via a convertible bond, making him the largest shareholder in the company.　　Originally, the closure of the deal was planned for the