World’s First Traditional Equity Shares on the Blockchain Launches in Singaporeby Company Announcement June 26, 2019
Blueshare, the world’s first traditional equity shares on the Ethereum blockchain, held its Singapore private launch dinner on June 24, 2019 at Mitzo restaurant of Grand Park Orchard Hotel. Dr. Zlatin Sarastov, Chief Financial Officer, and Mario Dimitroff, Head of Project of Blueshare, hosted the event which had close to 20 investors’ attendance.
Blueshares represent the tokenized traditional equity participation shares of Interprom Mining AG. The latter, incorporated in Switzerland, is the majority owner of Interprom OOD, a leading construction and mining company with 23 years of experience, holding 90% stake. Both companies are consolidated into a Group controlled by Interprom Mining AG.
“What we aimed to achieve is to provide the first hybrid approach towards a diverse investor universe, where traditional investors can buy directly traditional shares, while crypto investors can buy security tokens that can be converted into shares at any moment they wish to. This means that both types of investors essentially hold the same instrument and asset class purchased in a different way,”
said Dr. Zlatin Sarastov.
Interprom OOD holds a portfolio of successfully completed large-scale construction projects, including, but not limited to, complex urban infrastructure, wastewater purification plants, healthcare and educational facilities, power generation, road construction, and more.
The company is also in the process of executing the second stage of a 90 million EUR subway construction project right at the heart of Sofia, the capital of the European country Bulgaria.
The project’s hard cap is set to EUR 128 million. The public offering’s lasting period is 90 days. Interprom Mining AG issued 300 million security tokens – 80 million are offered at the cost of EUR 1.60.
The token/share ratio is 1:1, meaning that 1 security token is backed by 1 Equity Capital Participation Share. Investments are accepted both in fiat and cryptocurrencies – Euro, Bitcoin, Ether, and Tether. The token sale started on May 6, 2019.
The funds raised under the proposed security token offering will be used as a direct investment into the company’s mining and exploration concessions.
For over five years, the company has been actively investing in natural resources exploration. The company owns the exploration concessions for several sites in Bulgaria.
The estimated value of the exploration concessions is over US$ 4.3 billion. Additionally, the company has an indicative US$ 26.7 billion in potential forthcoming mining exploration rights with a main focus on Gold, Silver, Copper, Zinc and Lead.
Featured image credit: From L-R: Widelia Liu (Partner, SUSY Network), Jeremy Khoo (Advisor, Blueshare), Dennis Wong (Senior Associate, Investments at Golden Equator Capital), Dr. Zlatin Sarastov (CFO, Blueshare) and Mario Dimitroff (Head of Project, Blueshare)
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