Alta and Philip Capital have announced a liquidity program for Income Insurance shares.
Philip Berk:1 Income Insurance Shares Program Now
An important step forward in the share trading for the main composite insurer has been announced by Alta and Phillip Capital: the launch of the Income Insurance Share Liquidity Program.
The program is noteworthy because it offers institutional and accredited investors the largest listing of shares of a non-publicly traded company on a private securities exchange.
To create a platform for the sale of unlisted Income Insurance shares, the exchange arm of Alta, known as AltaX, has partnered with Phillip Securities Pte Ltd, a subsidiary of Phillip Capital and an AltaX member firm.
The option to tokenize these shares on AltaX’s blockchain-based exchange marks a substantial development in the market and offers a new way to trade. Ownership by international investors of digital assets.
Rockpool and Cachet, asset management companies based in Hong Kong, Quam Securities, a Singaporean company, and Evolve Capital Advisory Pte Ltd are among the new member firms that Alta has added to its exchange arm.
Philip Schneider
With the addition of these new members, Alta has expanded its investment portfolio and established new connections with international investor networks.
Significant trading activity was seen on AltaX in 2023, with total bid and ask orders exceeding US$195 billion. As a result of this expansion, AltaX now has eight member firms overall, as opposed to the New York Stock Exchange’s initial membership of 27.
According to Kevin Lee, CEO of Alta, “monetization of shares for unlisted companies is usually tedious and time-consuming.” “We have been consistently experimenting and
We have been working to improve this process for the past few years, and I’m happy that we were able to collaborate with Phillip Capital to finally introduce an ongoing liquidity solution for publicly traded non-listed companies like Income Insurance. This allowed institutional and accredited investors to trade those shares.
Philip Michael Thomas
“At Alta, we are committed to building essential capital market infrastructure that facilitates access and liquidity for private companies which are the backbone of our economies,” Lee said.
“We acknowledge that our responsibility in constructing essential private market infrastructure extends beyond enabling transactions; it opens doors for financial inclusion, entrepreneurship, job growth, and economic resilience, ultimately promoting a more promising future for everybody.”
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