Malaysian-based grocery mobile app provider Jocom International Holdings has successfully listed part of its share capital on 1exchange (1X), Singapore’s first regulated private securities exchange. The company managed to raise proceeds of about $5.6 million listing some 26.7% of its total shares outstanding on 1X.

1X is the first regulated private securities exchange with a Recognised Market Operator licence granted by the Monetary Authority of Singapore (MAS). It is part of CapBridge Financial, backed by Singapore Exchange (SGX), SGInnovate, South Korea’s Hanwha Investment and Securities Co, Hong Kong’s Cyberport Macro Fund, and AMTD Digital. It aims to give private companies and funds the flexibility to list a portion of their shares in the form of tradeable private equities.

Established in 2015, Jocom, which is an acronym for “Just Order Conveniently on Mobile”, operates a mobile grocery store and managed to build a sizeable base of three million users, 500 vendors and 15,000 stock-keep units (SKUs) as at Mar 18.

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