Cryptocurrency
First Tokenized IPO Launches on National Stock Exchange
As reported by CoinDesk, “Today marks the launch of what is most likely the first ever blockchain-based initial public offering (IPO), with the national stock exchange of the Seychelles selling tokenized shares in its equity to investors worldwide. “At 09:00 U.K. time (08:00 UTC), the shares will be available on the MERJ exchange’s own platform, as […]
As reported by CoinDesk, “Today marks the launch of what is most likely the first ever blockchain-based initial public offering (IPO), with the national stock exchange of the Seychelles selling tokenized shares in its equity to investors worldwide.
“At 09:00 U.K. time (08:00 UTC), the shares will be available on the MERJ exchange’s own platform, as well as through broker-dealer Jumpstart and crypto custodian Prime Trust – both based in the U.S. – and U.K.-based blockchain fundraising platform Globacap, MERJ told CoinDesk exclusively.
“The IPO sees MERJ issuing 1,652,893 new shares at a price of $2.42 per share, with the aim of raising $4 million to fund its expansion. The sale values the firm at $25 million, the firm said.
“The shares are tokenized on the public ethereum blockchain.
“Edmond Tuohy, CEO of MERJ Exchange, said:
“’These novel financial instruments are here to reshape the financial industry for years to come. MERJ provides the regulatory framework necessary for investors globally to access these markets in a safe and compliant manner.’”
Continue to read the full story at CoinDesk.
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