Pawnshop chain ValueMax Group plans to launch a $100 million commercial paper facility programme entirely in digital securities.
The commercial paper, a form of unsecured short term debt, will be listed on the ADDX digital platform.
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ValueMax targets for the first tranche of digital securities under this programme to be issued by end of the year.
Taurus Point Capital, an exempt corporate finance adviser, has been appointed to assist the listing.
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See also: Sapphire Corp shareholders approve capital reduction, to receive 4.563 cents per share
ValueMax shares last traded at 35 cents.
Photo: Samuel Isaac Chua/The Edge Singapore
