In first, Seychelles’ stock exchange to conduct an IPO of equity security tokens @TheBlock__ #Capital Markets #Security Token #globacap #MERJ #Security Tokens #Seychelles

MERJ, Seychelles-based stock exchange, is going to hold an initial public offering (IPO) of equity security tokens next month in Europe.

The exchange has partnered with U.K.-based regulated capital-raising platform Globacap for the initiat...

MERJ, Seychelles-based stock exchange, is going to hold an initial public offering (IPO) of equity security tokens next month in Europe.

The exchange has partnered with U.K.-based regulated capital-raising platform Globacap for the initiative, according to an announcement Thursday.

MERJ plans to sell 16% of its share capital in an IPO in tokenized form. "We will be the first entity anywhere in the world to hold an initial public offering of security tokens," said Edmond Tuohy, CEO of MERJ.

Globacap will help provide the “right” technology, systems and approach to execute the IPO, Tuohy said. MERJ listed the tokenized securities of its own equity earlier this month, also becoming the first in the world to do so at the time.

The securities, with the ticker symbol “MERJ-S,” are currently trading at $2.42 and have a market capitalization of around $21 million.

source https://www.tokentalk.co/The Block/in-first-seychelles-stock-exchange-to-conduct-an-ipo-of-equity-security-tokens-5d690c003d0b939a2526033b