- Digital asset-backed securities (“ABS”) now listed on Hg Exchange, Asia’s only member-driven securities exchange, offering a new opportunity for Thai investors
- ABS linked to a portfolio of rare casks of single-malt Scotch Whisky from world-renowned distilleries such as Talisker, Port Ellen and others
- ABS listed on Hg Exchange rose on high trading volumes with a total trading value of GBP 700,000 on the first day of trading, confirming strong market liquidity.
- Investment promoted by PrimePartners Corporate Finance Holdings (“PPCFH”) and coordinated by Fundnel Pte. Ltd. (“Fundnel”)
Photo show: From left, Gerald Ong, Deputy Chairman of PrimePartners Corporate Finance Group; Khai Lin Sng, Chief Financial Officer of Fundnel; Willie Chang, Chief Operating Officer of Hg Exchange; Mark Liew, Chief Executive Officer of PrimePartners Corporate Finance Group
Bangkok, 3 February 2021 – Rare Cask Holdings Pte Ltd (“Rare Cask Holdings”), a wholly-owned subsidiary of PPCFH, has successfully listed the Southeast Asia’s first digital ABS linked to exclusive casks of single-malt Scotch Whisky on Hg Exchange (“HGX”), a leading private securities exchange regulated in Singapore.
The digital ABS allows Accredited Investors, including Thailand-based investors, to own and trade high-end, premium whiskies until they reach maturity and are bottled. The ABS is tradable through HGX, an exchange known for listing shares in high-growth private companies and other digital securities. HGX is operated by an alliance of leading financial intermediaries – PhillipCapital, PrimePartners and Fundnel, powered by Zilliqa’s blockchain technology, and is expanding its community of member firms and investors in Thailand.
All five ABS were actively traded on the first day, with a total trading value of GBP 700,000 confirming market liquidity. The value of all five ABS rose on the first day of trading and equaled:
|ABS name||Last traded price (25/01/21)
Unit = GBP
|Port Ellen 1979||12,000|
|Coal Ila 1990||900|
Willie Chang, COO of HGX, said: “We are delighted by the success of Southeast Asia’s first digital whisky-based asset-backed security. The high volume on day one confirmed interest in alternative investment opportunities and highlighted the liquidity and benefits offered by listing on Hg Exchange. The ABS now trades alongside a growing number of other financial securities on the exchange including equities in private companies like Grab, etc. Hg Exchange continues to capture and capitalize on the growth and interest in private securities markets.”
Gerald Ong, Deputy Chairman and Executive Director of PPCFH, said: “We are delighted by the positive reaction to this digital ABS from Accredited Investors in Thailand, Singapore, across Asia and around the world. Amongst luxury investment items, whisky has come into its own over the last decade due to rapidly growing demand from consumers and global investors.”
Investors can freely buy and sell the ABS on the exchange. Upon cask maturity, for each ABS owned, investors can also take physical delivery of one bottle of whisky from the underlying cask, or work with a whisky merchant to sell bottles for cash as available.
The ABS is promoted by PPCFH, one of Singapore’s leading financial intermediaries, and coordinated by Fundnel, Southeast Asia’s largest private investment technology platform.
Accredited Investors interested in trading in the whisky-based ABS can contact Hg Exchange Member Firms PhillipCapital, PrimePartners or Fundnel. For general information about Hg Exchange or how to participate as a Member or Investor, please contact email@example.com.
About Hg Exchange
Hg Exchange (“HGX”) is a private exchange formed by an alliance of leading financial intermediaries, individually licensed and regulated by the Monetary Authority of Singapore. Its founding members include PhillipCapital, PrimePartners, Fundnel and Zilliqa. HGX’s technology infrastructure is underpinned by advanced blockchain technology and proven exchange solutions to enable secure and efficient cross-border issuance and trading of both digital and non-digital capital market products. Its mission is to create an equitable trading platform by bringing operational transparency, fair competition and cost-efficiency to the private capital markets.
About PrimePartners Corporate Finance Holdings
PrimePartners Corporate Finance Holdings is a member of the PrimePartners Group (“PPG”) which is an independent, Singapore-based financial services group that has over the past 20 years established two Monetary Authority of Singapore (“MAS”)-licensed businesses focused on investment & fund management and corporate finance advisory & capital raising activities. These services are targeted at meeting the expanding needs of Asian entrepreneurs and foreign businesses seeking opportunities for growth in Asia.
Fundnel is Southeast Asia’s largest private investment technology platform, building next-generation capital markets infrastructure to increase access and liquidity for entrepreneurs and investors. At the core of its deal-making expertise lies a proprietary engine, underpinned by Artificial Intelligence and Machine Learning technologies. Fundnel is headquartered in Singapore with a growing presence in 5 countries across the Asia Pacific region.
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