Kapital DX, touted as the first initial exchange offering platform in Malaysia, has launched its inaugural product: a tokenized primary offering of a Shariah compliant fixed income product issued by a local healthcare solutions company.
The offering by Integra Healthcare Technology, which is a program named i-INT Programme worth a total of RM150 million (US$31.55 million), carries a tenor of five years and a profit rate of up to 10% per annum.
Tranche 1 of the program, which amounts to RM29 million (US$6.1 million), has been fully subscribed through institutional participation, while Tranche 2 is currently open for subscriptions.
Integra, which specializes in developing and managing specialist rehabilitation and healthcare centers, is raising funds to set up four new rehabilitation centers.
Kapital DX’s platform helps private companies raise funds through the issuance of security tokens, enabling fractional ownership of various assets through blockchain technology and making private market investments accessible to a wider audience.
“This strategic move is designed to bridge the funding gap for growth to late-stage companies, facilitate project financing and expand the range of available asset classes through tokenization,” a press release read.
Registered and regulated by the Securities Commission Malaysia, Kapital DX, which officially launched in 2023, is one of only two initial exchange offering platforms licensed by the regulator. The other registered entity is equity crowdfunding platform pitchIN, which also runs a token crowdfunding platform.
In September 2023, Malaysia Debt Ventures, a subsidiary of the Minister of Finance (Incorporated), invested in Kapital DX, and announced plans to raise funds on the Kapital DX platform to establish the first venture debt fund listed on an initial exchange offering platform.