The first issuance is for three-month commercial papers on digital securities platforms operated by SDAX

THE Straits Trading Company (STX) on Tuesday (Oct 15) announced a new S$55 million multicurrency debt issuance programme, to issue digital securities. 

 

Such digital securities will be issued and/or listed by the company on the digital platforms operated by Singapore&rsquo s Digital Asset Exchange (SDAX). 

 

Under the programme, the conglomerate-investment company said that it may, at its discretion, determine whether commercial papers will be offered for subscription to accredited investors and institutional investors on SDAX&rsquo s exchange platform, or to retail investors only on SDAX&rsquo s capital markets platform. 

 

The exchange platform is a recognised market operator, while the capital markets platform is a holder of a capital markets services licence. Both are wholly-owned subsidiaries of digital securities exchange SDAX Financial. 

 

Additionally, the first issuance under STC&rsquo s S$55 million multicurrency debt issuance programme was launched on Tuesday. 

 

It will be offered for subscription only to accredited investors and institutional investors at an interest rate of 3.8 per cent per annum, and will mature approximately three month from the date of issuance. 

 

The company expects to raise between S$5 million and S$10 million from investors, which shall be determined by the board after taking into account demand from investors. 

 

Further announcements will be made as and when there are material developments to the debt issuance programme and the three-month commercial paper, said STC. 

 

These follow an earlier announcement by STC on its partnership with SDAX to offer clients from both sides access to their respective services. 

 

Through the collaboration, members of Straits Trading Shareholders&rsquo Club will have access to SDAX&rsquo s array of private markets and alternative investment opportunities. In turn, SDAX clients will be able to invest in STC&rsquo s investment offerings. 

 

The tie-up offers Straits Trading Shareholders&rsquo Club members and SDAX clients access to exclusive investment opportunities

 

THE Straits Trading Company : S20 -0.69% (STC) has partnered Singapore&rsquo s Digital Asset Exchange (SDAX) to offer clients from both sides access to their respective services.

 

On Thursday (Oct 10), STC said the collaboration will offer members of Straits Trading Shareholders&rsquo Club access to SDAX&rsquo s array of private markets and alternative investment opportunities.

 

These include the investment and trading platform&rsquo s commodity notes, trade finance notes and social bonds, as well as SDAX&rsquo s Private Credit Fund and Fine Art Fund.

 

In turn, SDAX clients will be able to invest in STC&rsquo s investment offerings &ndash a move seen as one that further broadens the platform&rsquo s investment appeal.

 

STC launched its Shareholders Club in September 2021 to offer its shareholders fractional ownership of real estate and property assets.

 

The group listed its first tokenised corporate bond on the SDAX platform in early 2023.

 

Eric Teng, group chief operating officer of Straits Developments, said the partnership will create opportunities for STC&rsquo s stakeholders to participate in the group&rsquo s continued growth.

 

SDAX chief executive Rachel Chia considered the collaboration with STC a &ldquo validating moment&rdquo .

 

She said: &ldquo Not only does it cement the strong, longstanding relationship between SDAX and Straits Trading, it is a testament to the trust Straits Trading has in our platform, especially as SDAX remains committed to democratising finance for retail investors and the mass affluent.&rdquo

" The group said that while the current environment is marked by escalating trade tensions and policy uncertainties, its balance sheet remains robust, with S$476.3 million in cash and bank balances. "

Current cash & bank balances is $476.3 milliion.

No womder it hit another a new 52 weeks low. One year ago it was more than $2 per share. May be more downside to go?