SINGAPORE, Jan. 12, 2022 /PRNewswire/ -- 1exchange ("1X"), Singapore's first regulated private securities exchange and a member of leading integrated private market ecosystem CapBridge Financial, today announced the direct listing of Homevest SDN. BHD. ("HOMEVEST"), a property investment, management, and development company in Malaysia. With a property portfolio of more than RM300 million, Homevest helps unlock value for their partners and has made home ownership more accessible and affordable through their innovative property solutions.
About 10% of Homevest total shares outstanding were listed on 1X at an aggregate value of S$3m. The seamless 1X listing process was conducted entirely online and facilitated by the CapBridge platform.
Dato' KY Lim, Group Managing Director of HOMEVEST, said, "Today's listing on 1X marks a historic milestone for HOMEVEST. It brings us one step closer to achieving our vision of building a world shaped by smart-living communities with close-knit relationships. Over the years, HOMEVEST has seen rapid growth in its property portfolio, investors, and client base. We are looking forward to unlocking more value for our shareholders, partners and homeowners."
Lim further added, "It is our privilege for HOMEVEST to be listed on 1exchange, the first MAS-regulated private securities exchange in Singapore and a member of leading integrated private market ecosystem, CapBridge Financial. 1X is also widely regarded as the third board in Singapore's global financial centre. We decided to list in Singapore because it is one of the world's top financial hubs and is an attractive market due to its competitiveness and reputation in the business environment, human capital, infrastructure and financial sector."
1exchange Chief Executive Officer, Mr. Victor Chia, said, "We are delighted that Homevest has selected 1exchange as their listing venue. As Malaysia's business in property investment, management and development, Homevest unlocks value for their partners to make home ownership more affordable and accessible. 1exchange is proud to be a partner to Homevest and we look forward to its continued growth."
Based in the global financial hub of Singapore, 1X is the first regulated private securities exchange with a Recognised Market Operator licence granted by the Monetary Authority of Singapore ("MAS"). 1X is part of CapBridge Financial, backed by Singapore Exchange ("SGX"), SGInnovate, South Korea's Hanwha Investment and Securities Co and Hong Kong's Cyberport Macro Fund.
Mr Mohamed Nasser Ismail, Global Head of Equity Capital Markets, SGX, added, "A direct listing on 1exchange is a compelling option for many companies building a strategic liquidity pathway to unlock value and support growth. As a regulated private exchange, 1exchange promotes the vibrant trading of private equity in Singapore and supports companies in their growth journey, including towards a potential public offering. My heartiest congratulations to HOMEVEST and we look forward to its continued success."
This is the fourth direct listing on 1X and its third cross-border listing. The momentous occasion was marked by a virtual gong-striking ceremony, attended by representatives from HOMEVEST, placement agent CapBridge Pte Ltd, trust administrator Equiom Trust Services Pte Ltd, as well as strategic partner and shareholder SGX.
On 1X, private companies and funds have the flexibility to list a portion of their shares in the form of tradeable private equities. A direct listing on 1X enables companies to simply convert their existing shares to tradeable shares, in a cost-effective and efficient manner. This regulated asset class traded on 1X provides investors additional portfolio diversification with private equity returns potential, while giving shareholders options for exits. Click here to view the virtual listing ceremony.
A member of private markets ecosystem CapBridge Financial, 1X is the first MAS-regulated private securities exchange in Singapore and widely regarded as the third board in the global financial centre.
Built on the blockchain, 1X is a "light-touch" and cost-effective private listing venue designed for family businesses, as well as growth and pre-IPO companies. The exchange provides companies with market-oriented solutions such as direct private listings and employee share trading.
With a 1X listing, founders, owners, and growth stage companies can achieve partial exits and tradability in private shares while retaining flexibility and control. Private investors on 1X can freely and securely trade in and out of their positions to achieve liquidity anytime, anywhere.