MTS Gold closes Thailand's first gold digital token offering, offering 3% annual return

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โดย InfoQuest·TH·Read original
Summary · why it matters

The MTS GOLD group of companies, known as Mae Thong Suk, has announced the success of its MTS Gold Investment Token project, the first digital token for investment in the gold trading business in Thailand, carried out together with Kubix Digital Asset Company Limited, or kubix, a provider of digital token offering systems, and seven other partner companies. Nattapong Hiranyasiri, Chief Executive Officer of Mae Thong Suk Central Company Limited, disclosed that the company will use no less than 90% of the proceeds from the offering to invest in buying 96.5% gold bars as inventory for its gold bar trading business through 13 branches of Mae Thong Suk gold shops in Bangkok and its vicinity, and no more than 10% as working capital in the business. Investors are entitled to a fixed return of 3.00% per year, paid once a year, throughout the three-year life of the project, along with the opportunity to receive an additional special bonus return when the project matures if the average gold selling price at the close of the project is higher than the average gold purchase price at the start of the project, as well as receiving their full initial investment back. Assawinee Srisomboonnanon, Managing Director of Kubix Digital Asset Company Limited, or kubix, the provider of the digital token offering system under Orbix Group in the financial business group of Kasikorn Bank, said the project reflects confidence in the MTS GOLD group and is an example of expanding opportunities for investors to access quality assets. The token requires the issuer to maintain liquid current assets worth no less than the funds raised throughout the life of the project, with monthly audits by kubix throughout the project.

Impact on stocks 1

Financials▲ · 1 stocks

Theme Impact 1

Off-coverage companies 3

MTS Gold แม่ทองสุกPrivate▲ Positive
Capitalrelevance

MTS Gold closed Thailand's first gold digital token offering, raising proceeds to buy gold bar inventory and expand its trading business.

Kubix Digital AssetPrivate▲ Positive
Capitalrelevance

Kubix provided the digital token offering system for the successful MTS Gold token project, highlighting its platform.

orbixPrivate± Mixed
relevance

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