On July 2, it was reported that a Blockchain FinTech company Blackmoon offered the world’s fourth-largest smartphone producer Xiaomi to tokenize its initial public offering (IPO).
It would give crypto investors the unique chance to cooperate in the Xiaomi IPO on the Hong Kong stock exchange and would become the first company in history to tokenize an IPO which would be available via the Blackmoon Platform.
On July 9, the payment options would begin on the Hong Kong stock exchange that could include Ethereum (ETH), Bitcoin (BTC) or Litecoin (LTC). Blackmoon would apparently utilize the income to subscribe to Xiaomi’s $4.7 billion IPO in Hong Kong.
Blackmoon’s offered token price is basically connected to the performance of Xiaomi shares. Blackmoon also noted that holders would be able to buy the tokens on a monthly basis. Token holders would get their investment in digital currency afterward, though Blackmoon is still working on payments options, as per the report.
Oleg Seydak, the Ceo of Blackmoon, stated that:
“Before launching the Xiaomi token, we had a poll across our social media and many people said, that they would be interested in IPO participation through the token purchase. But we should warn investors that there is lock up period – 93 days. It is the subject to a reasonable time needed for the completion of token redemption procedure.”