MoneyMax has raised about $67.7 million in gross proceeds from the issuance of three digital security tokens on the ADDX platform, which closed on March 13.
The pawn brokering company issued the Series 011 Tokens, the Series 012 Tokens and the Series 013 Tokens as part of its $100 million unsecured commercial paper programme on Jan 9, 2023, Sept 24, 2024 and Feb 28, 2025 respectively.
Subscribers of the Series 011 Tokens include individuals who have a direct controlling stake in the company. Lim Yong Guan, executive chairman and CEO; controlling shareholder and sister of the CEO Lim Liang Eng; COO and spouse of the CEO Tan Yang Hong; are among the few who have collectively subscribed for $14.48 million or 33.06% of the tokens.
Subscribers of the Series 012 Tokens also include the CEO and COO, Lim Yong Sheng, who collectively subscribed for $15.46 million or 69.77% of the notes.
Subscribers of the Series 013 Tokens include COO and spouse of the CEO Tan Yang Hong, who subscribed for $0.06 million or 3.45% of the notes.
Shares in MoneyMax closed flat at 39.5 cents on March 13.
