African Exchange To Offer Security Tokens To EU Investors

Law360 (August 29, 2019, 4:10 PM EDT) -- Merj Exchange, the stock exchange for the African island country of Seychelles, on Thursday said it will team with British capital-raising platform Globacap to issue tokenized securities of the company through an initial public offering to European investors.

Merj described its transaction as an IPO, though it did not list a fundraising estimate or how it will spend proceeds. The company said its offering will amount to 16% of its share capital, which will be made available to U.K. and EU investors.

"We will be the first entity anywhere in the world to hold an initial public offering of security tokens,"...

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