Fusang today announced that it has received approval from the Labuan Financial Services Authority (Labuan FSA) in Malaysia for the Initial Public Offering (IPO) of FSC equity tokens, which directly represent shares in Fusang Corp. This approval clears the path for the world’s first IPO of fully regulated equity tokens.
The offering of 2,500,000 equity tokens will give both institutional and retail investors a direct stake in Fusang Corp, which operates a fully licensed and regulated digital ecosystem that includes Fusang Exchange, Asia’s first regulated stock exchange for security tokens. Fusang Exchange is licensed to be a public listing venue for initial public offerings and acts as its market’s front-line regulator.
The IPO, which has an offering size of USD$10 million, will be available for institutional and public subscription. The FSC equity tokens will be listed on Fusang Exchange by the end of the first quarter of 2022.
FSC holders will own direct equity in Fusang Corp. The tokens represent its shares in digital form, recorded on a blockchain rather than in a traditional share register. This creates an accessible yet secure and regulated platform for tokenization.
FSC equity tokens are issued on the Ethereum blockchain.
“Our ambition is to bring regulated securities into the digital era by demonstrating that the security token ecosystem is compatible with existing securities regulatory frameworks. As we work towards this goal, it is vital to demonstrate the operational ability of our technology by using it ourselves – rather than turning to traditional equity markets, as other digital asset exchanges have done” said Henry Chong, Founder and CEO of Fusang.
“Our vision at Team Fusang is to create a digital platform where it is as easy to invest in a company as it is to buy its products online,” Chong added.
The IPO will be available to institutional and retail investors that register on Fusang’s platform. Investors will complete…
