Intraco launched its fifth issue under the SDAX Commercial Paper Facility Programme (the SGD CP Series 005) for a tenor of 42 days at an interest rate of 4.4% per annum on April 4.
The company says the issue raised $5.96 million from accredited investors, with the tokens to be listed on the SDAX Exchange on the same day.
Amongst the subscribers, $2.18 million was subscribed to by associates of Intraco’s controlling shareholders and the company’s executive chairman, amounting to approximately 36.6% of the SGD CP Series 005 Tokens.
Intraco also launched its first issue of commercial paper in US Dollar digital securities denominated under the same SDAX programme (USD CP Series 001 Tokens) for a tenor of 42 days at an interest rate of 6.2% per annum on the same day.
The first USD issue raised US$2.08 million ($2.8 million) from accredited investors, with the tokens also listed on the SDAX Exchange on April 4.
Amongst the subscribers for the USD CP Series 001 Tokens, US$2.0 million was subscribed to by associates of controlling shareholders of the company, amounting to approximately 96.2% of the issue.
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Taurus Point Capital, an exempt corporate finance adviser and a 51% subsidiary of Intraco, is the adviser to the company for both issues.
Shares in Intraco closed 1.5 cents lower or 5.09% down at 26.5 cents on April 4.
