Dgex.com recently announced their IPO
http://dgex.com/news.htmThey are already in the 2nd phase and offer one share for 125 NXT / share.
The detailed prospectus is linked below.
https://dgex.com/pvo/dgex-prospectus-v2.pdfCalculation1) $Value of the Dividend per yearThey are projecting a 0.0302 BTC dividend week per 1000 shares, given the current BTC price that is around 1$ per year per share.
0.0302*52 /1000 *660 = 1.036
2) Price of the stock in $The current value of one Nxt times the amount you have to pay for one stock
0.052 *125 = 6.5
3) Price and exp. dividendFor an investment of 6.5$ you receive around 1$ dividend per year, doesn't sound too bad right?
4)
Risk factors and- exchange is getting hacked
- competition
- Nxt will fail
-...
Dgex.com is only offering Nxt at the moment and more and more exchanges adding Nxt. More exchanges means more competition.
Their security is not very sophisticated, I couldn't find an option for two-factor authorization for example.
=> High risk
5) Competitive advantage The problem is the one product market. They have lowered fees again but that's not enough to compete.
They are also offering a Nxt Client but there are already several competitors out there.
Nxt price and volume over time:
http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=nxt-btc&market=dgex=> They don't have a clear competitive advantage and their success is very depended on Nxt's
5) Result Due to several huge risk factors (security, growth), we are dealing with a company with that has the risk characteristics of a startup. But return characteristics of a company in a competitive market (chances of huge growth are very slim).
You can plugin some numbers into the
http://en.wikipedia.org/wiki/Dividend_discount_model and see for yourself, that this is investment is probably not worth it.