Intraco Limited has issued its eleventh series of commercial paper in digital securities in Singapore dollars (SGD CP Series 011 tokens) under the SDAX CP facility programme, according to an Oct 22 bourse filing.
The digital securities are set to be issued for a tenor of 30 days at an interest rate of 4% per annum.
Additionally, the group has also launched its seventh series of commercial paper in digital securities denominated in US dollars (USD CP Series 007 tokens) under the SDAX CP facility programme, for a tenor of 30 days at an interest rate of 6% per annum.
Currently, the SGD CP Series 011 tokens raised $10.1 million from accredited investors, while the USD CP Series 007 tokens raised US$4.1 million ($5.3 million) from accredited investors.
Both of the digital securities are expected to be listed on the SDAX Exchange on the same day.
Amongst the subscribers for the SGD CP Series 011 tokens, the group says $6.8 million have since been subscribed by associates of controlling shareholders of Intraco I06 , its executive chairman and his spouse. This represents approximately 67% of the SGD CP Series 011 tokens.
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Meanwhile, amongst the subscribers for the USD CP Series 007 tokens, US$1 million has been subscribed by associates of controlling shareholders of the group, amounting to approximately 25% of the tokens.
Taurus Point Capital, an exempt corporate finance adviser and a 51% subsidiary of the group, has been appointed as the adviser to Intraco on the SDAX CP Facility Programme, the SGD CP Series 010 tokens and the USD CP Series 006 tokens.
Further announcements are expected to follow subject to material developments.
Shares in Intraco closed flat at 35.5 cents on Oct 22.
