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UnfoldU Undergoes Coin Split Ahead of Its IEO

08-26-2020 03:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Unfoldu Group

UnfoldU Group Forward Split, IEO On Charts

UnfoldU Group Forward Split, IEO On Charts

UnfoldU Group, the leading school online education company focused on India has undergone a coin forward split ahead of its Initial Exchange Offering (IEO) on the leading crypto exchanges. The company today announced that the management and the coin holders have approved the coin split and the same is put into immediate effect. The split happened in the ratio of 10 coins for every 1 held. The forward split has reduced the price of the coin by 90% without impacting the invested value or the market cap of the business. The management believes that the forward split will help retail coin holders to benefit, also the trading liquidity will increase due to the enhanced affordability of the coin.

UnfoldU (UNFLD) was trading at a price of US $3.44 (post-split) at the time of writing of this article. UnfoldU is targeting a larger coin holder base to enhance liquidity. UnfoldU Group has also confirmed that the company has started the process of IEO and is currently in talks with the sponsor to finance the costs related to the marketing and roadshows involved in the IEO. The company is targeting to raise the US $5-10 million to finance the expansion and the marketing costs related to the product and service.

The Corona Effect:

UnfoldU Group has clarified that the ongoing COVID pandemic has positively impacted the company. As per the company insiders, the COVID pandemic has forced a large student base to shift online. Almost all schools in India have moved online as the schools are shut from the last five months. The management believes that the new form of schools will emerge which will be fully online which will greatly benefit the rural areas where quality education still a bottleneck as the teachers often deny relocation to such areas.

“The lockdown has positively impacted our business, the parents have now become more aware of online education and even the students are enjoying the transformation from the classroom study to a fully home-based education system. We understand that schools play a vital role in student’s mental growth, but I firmly believe that for forever online education will become a vital way through which students will gain knowledge. In this lockdown phase, shifting online was not just a part of an expansion plan but it was more or less of a dire need to sustain the tough time,” said Harish Bajaj, Chairman, and CEO of UnfoldU Group.

The IEO Plan:

UnfoldU Group is targeting an IEO for the last few months, the company completed its preparation in November last year and was on verge of launching its offering when the COVID pandemic rocked the global businesses. UnfoldU is targeting to raise the US $50 million in its first round of initial offering. The placement will be completed through a mix of the public and private placement.

Competition in India:

UnfoldU is competing against players like Byju and Vedantu. Both the companies are well funded but are loss-making. Unfold, on the other hand, is targeting to play profitably by directly reaching the parents and students through a mixed marketing strategy. Under this strategy, both the parents and students will be able to try the product in the presence of a marketing agent. This strategy reduces customer conversion time.
UnfoldU is targeting an explosive growth and a tremendous value creation for its stakeholders.

Unfoldu Group Inc.
Postal Address: F-384,Sector-90, Sahibzada Ajit Singh Nagar, Punjab 140307
Press Contact: Neeru Arora

UnfoldU Group Ltd. is a BitLux OTC listed company (trading of tokenized digital shares) operating in the field of the online education industry. The parent company is based in the USA while the subsidiary offices are based in Canada and India.

The aim of establishing the company was to provide tuition replacement to students at nominal costs through online courses. Our motto is to facilitate well-researched study material to students at their doorstep so that they have a clear understanding of all the principles and basic concepts; and they do not need to go to expensive tuition and coaching centers for help.

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