Seychelles-based securities exchange MERJ will be conducting an Initial Public Offering (IPO) to distribute tokenized shares in its equity to investors worldwide, CoinDesk reported on 10 September.

According to the report, the sale of the shares, which were tokenized on the public Ethereum blockchain, will begin today, 10 September, at 09:00 U.K. time, and will be available on the MERJ platform, blockchain fundraising platform Globacap, as well as through U.S.-based crypto custodian Prime Trust, and broker-dealer Jumpstart. MERJ is trying to raise $4 million through this sell, and will be issuing 1,652,893 new shares, with a price of $2.42 per share. The CEO of MERJ Exchange, Edmond Tuohy, commented:

“These novel financial instruments are here to reshape the financial industry for years to come. MERJ provides the regulatory framework necessary for investors globally to access these markets in a safe and compliant manner.”

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The innovative IPO of security tokens was first announced in late August in a press release from Globacap, which became the first to issue an equity-security token under supervision of the U.K.’s Financial Conduct Authority last year. On the other hand, MERJ was the first to list regulated security tokens on a national stock market, under the ticker symbol “MERJ-S”. Myles Milston, CEO and Founder of Globacap, said in the press release:

“Globacap and MERJ share a sense of mission to bring the efficiency and cost benefits of distributed ledger technology to the regulated financial markets arena. MERJ has demonstrated unquestionable leadership and its IPO will be a landmark event in bridging regulated financial markets and the world of digital assets.”

Even though MERJ is located in the Seychelles, it hosts issueres from North America, Europe, Asia, Australia, and Africa. It received its license as a securities exchange by the Seychelles Financial Services Authority.

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