In first, Seychelles' stock exchange to conduct an IPO of equity security tokens

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Seychelles-based stock exchange MERJ is going to hold an initial public offering (IPO) of equity security tokens next month in Europe.

The exchange has partnered with UK-based regulated capital-raising platform Globacap for the initiative, according to an announcement Thursday.

MERJ plans to sell 16% of its share capital in an IPO in tokenized form. "We will be the first entity anywhere in the world to hold an initial public offering of security tokens," said Edmond Tuohy, CEO of MERJ.

Globacap will help provide the “right” technology, systems and approach to execute the IPO, Tuohy said. MERJ listed the tokenized securities of its own equity earlier this month, becoming the first in the world to do so.

The securities, with the ticker symbol “MERJ-S,” are currently trading at $2.42 and have a market capitalization of around $21 million.

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