Articles on: EGX

Who has invested in EGX?

Enegra was first registered as Enegra Ltd in Australia in 2011. It proceeded to raise capital and register operating subsidiaries in Singapore, Indonesia, and Malaysia. The original shareholders were mainly institutional or sophisticated investors.

In July 2019, Enegra Group Ltd was registered in Labuan, Malaysia, in order to tokenize the equity in Enegra Ltd, and restructure the company to have a parent in a more tax efficient and fintech-friendly jurisdiction. Enegra has tokenised 100% of the equity in Enegra Group Ltd, with equity represented by the ERC-3643 compliant EGX security token issued on the Polygon network (ISIN: MYA159590209).

Initial Token Offering

In November 2019 shareholders of Enegra Ltd all signed Token Subscription Agreements to purchase EGX, in return for their shares in Enegra Ltd. These Token Subscription Agreements incorporated the EGX Token Terms and Conditions.

Aside from the service providers who facilitated the tokenization and offering, the initial offering of EGX was restricted to the shareholders of Enegra Ltd.

Pre-Listing Private Placement

In 2020 and 2021, there were several rounds of non-brokered private placement of EGX undertaken by Enegra to institutional and sophisticated investors. At each round, the price of the EGX increased, with the last round pre-listing being priced at USD 65.00.

As EGX are a security, and holders are the beneficial owners of Enegra Group Ltd, we are obligated by the Labuan Financial Services Authority (LFSA) to qualify prospective holders. Investors in the Pre-Listing Private Placement also completed a Token Subscription Agreement.

Exchange Listing

In December 2021, EGX were listed on BigONE exchange at an event held in Dubai. There was no offering undertaken by the company as part of this listing, and EGX bought and sold on the exchange are secondary market transactions. EGX were listed at a price of USD 150.00, and have subsequently traded up to the current price of around USD 196.00.

As per CoinMarketCap, EGX is currently listed on four Centralised Exchanges (CEX). EGX will be listed on additional CEX throughout 2023, with a target of 10 CEX.

Post-Listing Private Placement

After their initial listing, EGX continued to be offered on the primary market by Enegra to institutional and sophisticated investors in a non-brokered private placement, priced at USD 95.00 and based on an Information Memorandum. The Post-Listing Private Placement ended 31 December 2022, with no additional offer planned on the primary market. EGX offered by the Company in the Post-Listing Private Placement were from the Company’s Treasury holdings, and were not a new issue (e.g. the Post-Listing Private Placement was non-dilutive).

Current Token Sales

EGX is no longer offered on the primary market, and is only available to buy from existing token-holders on the secondary market, either directly or via one of the CEX it is listed on.

Updated on: 22/08/2023

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