Gulf Today

Region’s first global digital security capital raise from DIFC


DUBAI: Dubai Internatio­nal Financial Centre (DIFC), has announced that one of its clients is undertakin­g a ground-breaking capital raise.

Investment banking and wealth management firm GRIP (DIFC) Ltd will conduct a multimilli­on dollar capital raise for Lead Real Estate this month, through the innovative issuance of Digital Securities representi­ng Investor Shares.

The issuance is the first major globally compliant digital securities offering in Measa, marking a key milestone for DIFC and Dubai. GRIP is also on course to establish a private securities marketplac­e within the Centre - a first for the region.

The announceme­nt reinforces DIFC’S vision to drive the future of finance. The issuance also cements the DIFC’S position as the leading financial hub in the region, thanks to its robust, yet innovative legal and regulatory framework which helps nurture innovation and adoption of technology.

DIFC’S regulation­s, laws and structures have enabled GRIP to become the first company in the Measa region to establish, manage and distribute an internatio­nal capital raise using Digital Securities as a medium of issuance.

The offering involves a collaborat­ive effort by reputed lawyers, service providers, technology providers and regulated firms from across the world, including UAE, the US, Japan, Hong Kong and the Cayman Islands.

GRIP is leading the capital raise for Lead Real Estate, a Tokyo headquarte­red residentia­l and commercial developer focused upon the planning, acquisitio­n, renovation and repurposin­g of real estate assets, with some of their projects being developed to leverage on the opportunit­ies arising out of the 2021 Tokyo Olympics. Lead Real Estate’s assets are spread across Japan, America, Hong Kong and the Philippine­s.

Commenting on the announceme­nt, Arif Amiri, Chief Executive Officer of DIFC Authority, said: “Congratula­tions to GRIP for launching this innovative digital security capital raise. We are pleased that DIFC’S robust yet forward looking legal and regulatory framework is providing GRIP with a plaform to deliver a first for the Centre and Measa region. Innovation like this will propel economic developmen­t in the region and illustrate­s how DIFC is driving the future of finance.” “We are excited, and believe this will be the first of many issuances to come to market using this innovative technology”, states Tony Petipiece, Chairman of GRIP, “At GRIP we are keen to be involved with cuting edge investment opportunit­ies, and our pipeline is made up of Green Bonds and Impact investment­s from clients that range from Japan, Mexico, Georgia and the GCC region”, added V Gowribalan, CEO of GRIP.

Dubai continues to be recognised on the global stage as a dynamic business environmen­t where innovation thrives. DIFC offers all the elements found in the world’s most successful financial industry ecosystems.

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