Neufund, a full stack security token issuance platform, has announced the details of the forthcoming “equity token offering” (ETO) for their parent company Fifth Force Gmbh (token symbol FTH). Announced last week, Neufund is poised to become the first European issuer to offer shares on a blockchain platform.
According to Neufund, the public sale kicks off on December 9th (11AM UTC) and will continue for seven days (there is a presale period). The pre-money valuation of Neufund has been pegged at €125 million.
Purchasers received a 40% discount (thus € 75m) during the public sale with a soft cap of €1.23 million and a hard cap of €6.6 million. Purchasers may participate with either ETH or Euros. As was reported previously, due to a request from the German regulator BaFin, there will be an initial minimum investment of €100,000. Neufund says that once the request is resolved the minimum will be eliminated to make the equity offer more accessible to a wider audience. If you are interested, Neufund is whitelisting investors now.
So will Neufund, and several other platforms, usher in a new era of digital assets? Securities issued and managed on the blockchain? That’s a good question. The global securities market is enormous and some prognosticators see a rapidly growing sector for blockchain based securities that reduce overall friction and automate some of the existing processes thus reducing costs and, perhaps, boosting liquidity.
Neufund has already published a list of upcoming security offerings with more said to be in the queue.
Neufund, which sets a high standard of operation, explains why they are different in a blog post:
- Our set of protocols for enhanced ownership enable all of our tokens to represent legally enforceable rights, like our Equity Tokens.
- We are community-owned and decentralized ﹣ whoever invests through the Neufund network owns the network. NEU token holders are economic co-owners of the platform and receive 100% of the revenues generated by it.
- Our core technical developments are open source and open for contribution from the community. Our technology efforts can be used freely to build other applications separate from Neufund ecosystem.
- We operate worldwide. Unlike our competitors, Neufund aims to accept retail investors from all around the world.
- Neufund isn’t just a set of protocols, but also a user-friendly issuance platform with built-in KYC/AML, legal architecture, and a team of regulatory experts.
- We have multiple, robust secondary market partners – MSX of Malta Stock Exchange, Binance, BitBay and Blocktrade.
- Our set of protocols can be used as a foundation for tokens representing different real-world assets: Equity is only the first application. Neufund aims to tokenize different types of assets in the future, like real estate or debt, as well.
Neufund’s noble mission of enabling ownership for all has pursued a regulatory compliant path from the beginning. Unlike the crazy ICO days of lore, Neufund has worked closely with BaFin to provide a transparent service that doesn’t challenge regulators but operates in cooperation with them. This is the future for all crypto assets.
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