The world’s very first initial public offering (IPO) of tokenized shares on a national stock exchange, is set to take place in Seychelles. MERJ Exchange Ltd. is looking to raise $4 million on the Seychelles Stock Exchange for its $25 million company. The plan for this is to sell 1.65 million shares at $2.42 each.
Slated for 8:00 UTC, the shares will be made available on the exchange and also through two broker-dealers in the U.S., Prime Trust and Jumpstart, as well as UK’s Globacap, a blockchain service for fundraising.
Speaking about the MERJ Exchange, its CEO, Edmond Tuohy 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.”
Tokenized shares are generally shares in the form of digital assets. By tokenizing these shares through distributed ledger technologies like blockchain, these assets can be very seamlessly exchanged or transferred from one seller to a buyer, just like any one would send and receive digital currencies. Tokenization has also been seen in real estate as well.
MERJ is the only licensed securities exchange in the Republic of Seychelles. The company, which was formerly called Trop-X Limited began operations back in 2012 after its incorporation a year earlier.
The exchange aims to pioneer the “next generation of global financial markets leveraging blockchain technology to create the world’s first truly global, direct access end-to-end regulated exchange built for the consumers of financial markets, issuers and investors.”
Image Credits: Pixabay