Porsche and T-Mobile Backed World’s First Blockchain IPO
December 6, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Germany-based investing and fundraising platform Neufund has closed the world’s first IPO on blockchain technology.
The world’s first initial public offering (IPO) on the blockchain was recently completed in Berlin. The IPO was conducted by the Neufund platform for the Greyp startup. The IPO attracted about 1017 investors from 34 different countries. The minimum investment threshold for an IPO was 100 euros, and the proposal itself met local regulatory requirements. Greyp raised €1.4 Million and is backed by both Porsche and T-Mobile and is the sister company of supercar firm Rimac Automobili.
Neufund CEO Zoe Adamovicz noted that the successful completion of the IPO was an important event not only for Neufund, but also for the security token industry. Thanks to the platform, private companies can effectively use the blockchain for IPO. Meanwhile, the lowest investment threshold is much lower than in traditional markets, which allows attracting retail investors.
“Neufund is the future of stock exchanges, with a global investor base of 11,000 from 111 countries and counting,” Adamovicz said.
According to a press release, Neufund will distribute earnings from the first offer (3% of capital raised, 2% of equity issued) to all NEU token holders. Last year, the company disbursed proceeds worth more than €111,000.
The next IPO candidate, who plans to use the services of the platform, is the German company Black One Entertainment. In addition, Neufund said that foreign companies, including companies from Belgium and India, are also interested in the platform services.
In September, Neufund received permission from the Liechtenstein regulator to sell token securities. In July it was reported that fintech division Malta Stock Exchange (MSX) is connected with Neufund to create a controlled and decentralized global stock exchange for listing and trading of securities tokenized along with crypto assets.
Author: Marko Vidrih
