Ahead of its planned London IPO, the Sumner Group plans to offer the Middle East’s largest STO to date for up to $100mln which will fund Sumner Group Holdings regional and global activities.
David Sumner, Chairman & CEO of SGH said:
“This is an exciting moment for Sumner Global and Sumner Group Holdings. This fundraise will allow us to strengthen our portfolio companies and execute our growth strategy throughout the region and globally. We are very grateful to our cornerstone investors for their participation.
“Security Token Offerings are a far cry from the days of ICO’s. Investors in the SGHX STO will receive tokens that are digitally programmed, and asset backed through a combination of public and private companies. Prior to any public sale launch, the tokens will be verified as fully compliant with regulations enforced by the Monetary Authority of Singapore.
“In launching this STO, we are offering potential investors access to a digital asset backed by a diversified portfolio of natural resources, building materials, digital media and healthcare recruitment companies. Security backed by real assets.”
The company is raising funding through its Singapore-registered subsidiary, Sumner Global, which will sell the SGHX token. Abu Dhabi investors Blue Rock Capital and Blue Stone Capital representing Khalifa Hasan Ali Saleh Al Hammadi have signed intentions of $10 million each, the company said in a statement.
- CEO Patrick M. Byrne Resigns From Overstock Over ‘Deep State’ Comment and Affair with a Russian Spy – Stock Rises - August 22, 2019
- Telx Technologies Launches World’s First Cryptocurrency Sim Card Wallet And Phone Number - August 22, 2019
- Chainalysis Launches Real-Time Alerts for Suspicious Transactions For 15 Cryptocurrencies - August 22, 2019
- Factom Launches New Stablecoin called PegNet Stablecoin - August 22, 2019
- HitBTC Cryptocurrency Exchange Offers Massive Rate Cuts - August 22, 2019
- American Classic Beer Miller Lite Teams Up with Blockchain Vatom Labs to Create New Customer Experiences - August 21, 2019
- WordProof and WORBLI Partner To Bring Online Content Transparency Using Blockchain Technology - August 21, 2019
- Polkadot Cuts Deal with Blockchain – 41M Wallets to get Polkadot.Network DOTS - August 20, 2019
- David Chaum’s New Quantum-Resistant Digital Currency, Praxxis, Has Arrived - August 20, 2019
- New Satoshi on the Block Plans a ‘Reveal’ – Bitcoin Community Responds - August 19, 2019
- Binance Announces Open Blockchain Project ‘Venus’ – Calls on Governments, Companies and Organizations to Develop Localized Stablecoins - August 19, 2019
- Blockchain-Fueled VeganNation raises $10 million for Vegan Global Marketplace - August 19, 2019
- Fight to Flame – Mike Tyson Denies Issuing Token and Working With Fight2Fame - August 17, 2019
- Bitcoin Wealth is Almost 50 Times More Concentrated than Global Wealth According to PARSIQ Research - August 16, 2019
- Graph Blockchain Signs LOI to Acquire Cyberanking Ltd. an Esports Company - August 16, 2019
- Blockchain Moves Into The US’s Largest Oil Fields With Data Gumbo - August 16, 2019
- BlockStar Teams Up With Cycling Apparel Brand De Marchi to Auction Fausto Coppi’s Cycling Jersey - August 16, 2019
- Zcoin Available to Five Million Merchants in Thailand - August 16, 2019
- Republic Partners with Althea to Launch First-Ever Compliant Security Airdrop for Retail Investors in the U.S. and Abroad - August 14, 2019
- Mark Cuban’s Dallas Mavericks Basketball Team Join Up With Bitpay To Accept Bitcoin For Tickets And Gear - August 14, 2019