Original-Research: FINEXITY AG (von NuWays AG): BUY

What happened

FINEXITY AG held its first Capital Markets Day in Frankfurt, presenting a new organisational set-up with four brands and, for the first time, financial targets for each business unit. NuWays AG rates the stock BUY with a 12-month target price.

Confirmed

Global impact / market context

Giving each brand its own forecast and mid-term target lets investors track progress unit by unit toward the regulated DLT trading and settlement system planned for 2028, which means the build-out becomes measurable rather than a single group-level promise.

Analyst inference

The BUY rating rests on management delivering its 2026 forecasts and mid-term goals across the four brands, so reported revenue at units such as the issuance engine will shape whether that view holds.

Analyst inference

What to watch

1. Management expects 2026 revenue of EUR 2.1-2.3 million at nolivius, the issuance engine that structures and issues tokenised bonds, equity and funds, with roughly 80% coming from advisory. Confirmed
2. Track whether mandates arranged by nolivius end up listed on Nundara as management intends, since that hand-off between brands would show the four-brand structure working as described. Proposed
3. Watch spending and cash needs as FINEXITY builds toward the regulated DLT trading and settlement system targeted for 2028, because costs paid before that system earns revenue could pressure cash available. Analyst inference

Evidence

• eqs-news.com