Aggregate Asset Management became the first company to be listed on the private securities exchange, 1exchange (“1X”). 1X is Singapore’s first and only regulated private securities exchanged with a Recognized Market Operator licence granted by the Monetary Authority of Singapore and backed by Singapore Exchange.
After a short six-week campaign where hundreds of investors – from our own clients to the general public – showed their support for us by committing bids, we successfully listed on 1X on 10 July 2019 with over S$5.6 million worth of tradeable private equities representing approximately 5% of the company’s share equity.
Our listing was commemorated by a gong-striking ceremony held in conjunction with SGX’s Daily Securities Market Opening in SGX Centre and graced by distinguished representatives from 1X, Singapore Exchange, etc.
Mohamed Nasser Ismail, SVP and Head Equity Capital Markets, SGX, said, “We recognize that companies in an earlier growth stage may need access to capital before they are ready for a public listing. We supported 1exchange to create a virtuous ecosystem of capital flow catering to companies in the mid-late stages of growth, adding to the vibrancy of the capital markets in Singapore. With 1exchange, companies such as Aggregate Asset Management now have more fundraising options, as well as a means to provide shareholders and other interested investors a market for these tradeable private equities. We are pleased to support this pipeline of private listings and look forward to helping companies prepare for an eventual public listing when they are ready.”
Our very own Kevin Tok, one of the company’s co-founders, said, “When we founded our company, we were among the very first fund managers not to charge a management fee. Today, we are again breaking new ground and making history as Singapore’s first privately-listed company on 1exchange. This private listing kicks off the next chapter of growth for us, and we look forward to bringing more value to our unitholders and shareholders.”
Choo Haiping, CEO of 1X, said, “1X is grateful for the support of our many stakeholders, including regulators, SGX, our partners in the financial industry, and the companies and investors who continue to believe in our mission to create a dynamic and vibrant private capital market through tradeable private equities.”