Re­gion’s first global dig­i­tal se­cu­rity cap­i­tal raise from DIFC

Gulf Today - - Business -

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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