Geneva, June 11, 2021
T-DX just closed the very first tokenised share auction of Audacia Holding SA (“Audacia”) at a price of CHF 32 per share, valuing the Swiss e-commerce company at a CHF 320 million market cap.
Tokenisation and admission
Following its equity tokenisation in collaboration with Taurus in April 2021, the shares of the Swiss private company Audacia were admitted for trading under the ticker AUD on the T-DX regulated marketplace on Monday 7 June at 9:00am CET. The trading pair available was AUD / CHF. In addition, Audacia published audited financial statements.
How does it work? Auction-based trading
The trading was organised in the form of an auction. Professional investors were able to place or cancel limit orders during the auction opening hours to participate until Friday 11 June 12:00am CET. At the end of the auction, buy and sell orders were matched to result in trades executed at a single price of CHF 32.-- per tokenised share.
Proven blue print for private asset digitisation
Asset tokenisation in full compliance with Swiss law, regulated secondary-market trading, and private asset settlement worked smoothly. Investors were able to place buy or sell orders in two clicks and shares settled instantaneously at the end of the auction. What used to take weeks now takes a couple of seconds.
Audacia auction-based trading will continue on a monthly basis before possibly considering continuous trading. The next discretionary auction will take place in July. Other companies and issuers will be announced soon.
This release is for information only, and does not constitute an offer to buy securities or any financial product, or any solicitation to such effect. It is intended for professional investors only. Access to the above product requires the opening of an account on TDX. Taurus does not guarantee the availability of any product. Conditions apply, in particular regarding the place of the Clients’ residence or situation. TDX is a platform operated by Taurus SA, a Swiss regulated security firm.