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Ascendiant Capital Markets: Society Pass Inc (Nasdaq: SOPA) 1Q 2025 Sees Growth Over the Next Year with 2 IPOs Providing Key Catalysts in 2025

1. Society Pass plans two IPOs to enhance value and growth. 2. Company's shares trading at cash value indicates significant undervaluation. 3. Ascendiant maintains BUY rating with a price target increase from $14 to $15. 4. High market potential for Society Pass's products presents high-risk, high-reward scenario. 5. Company operates in rapidly growing Southeast Asian markets with a robust consumer base.

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Why Bullish?

The increase in IPO plans and attractive valuation suggest significant upside potential, akin to previous successful IPOs in tech. For instance, companies like Sea Limited saw valuations soar post-IPO due to regional demand in Southeast Asia.

How important is it?

The firm's plans for IPOs and analyst support indicate positive future growth, making this news critical for investor sentiment.

Why Short Term?

The anticipated IPOs and revaluation by analysts could quickly generate market interest in SOPA. Short-term investors may react strongly to these announcements, similar to IPO responses of other tech firms.

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NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- Ascendiant Capital Markets LLC (“Ascendiant”) publishes equity research coverage on Society Pass Inc. (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem. Click Here (on Society Pass website) or here (on Ascendiant website) to view the full Ascendiant Capital Markets Equity Research Report. Summary Points: 2 IPOs Planned: In October 2023, the company announced plans to spinoff two of its businesses in IPOs in 2024 (originally planned), its digital advertising ecosystem, Thoughtful Media Group Inc., and its online travel platform, NusaTrip Inc. Ascendiant believes that these IPOs will drive significant value to Society Pass’s shareholders and will be key catalysts for the company in 2025.Positive high risks versus high rewards: Overall, concerns outweighed by growth prospects and valuation. Society Pass’s main products still has long commercialization challenges ahead, but Ascendiant believes the ~billion dollars market potential presents high rewards for the risks.Company trading at cash value: The company’s market capitalization is only ~$7 million while it has ~$7 million in cash implying its shares and business are significantly undervalued.Valuation attractive: Ascendiant maintains BUY rating, and raises 12-month price target to $15 from $14, based on a NPV analysis, representing significant upside from the current share price. Ascendiant believes this valuation appropriately balances out the company’s high risks with its high growth prospects and large upside opportunities. About Society Pass Inc.Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA. Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions. Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; and NextGen Retail, a Indonesia-based e-commerce platform. For more information on Society Pass, please visit: Website at https://www.thesocietypass.com or LinkedIn at https://www.linkedin.com/company/societypass or Facebook at https://www.facebook.com/thesocietypass or Twitter at https://twitter.com/society_pass or Instagram at https://www.instagram.com/societypass/. Cautionary Note Concerning Forward-Looking StatementsThis press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Media Contact:Raynauld LiangChief Executive Officerray@thesocietypass.com

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