National Stock Exchange of Australia has carried out a procedure to raise working capital
The National Stock Exchange of Australia conducted a process to attract investments and provide the company with working capital. As a result, the company received US$1.3 million. The NSX had originally hoped to raise US$1.1 million. However, its maximum target remains at US$2.85 million.
The exchange offered 45.2 million shares, each priced at US$2.50. The buyers were existing and new shareholders. Notably, there were no large holders among them.
Before offering the securities, the stock exchange issued a prospectus detailing its plans. Thus, NSX intends to increase the number of issuers represented on the floor. However, this process may take a long time. There is also a greater risk of decreased efficiency in other areas. To accelerate the implementation of these plans, the stock exchange has decided to attract new cash flows.
It is worth noting that NSX has already attempted to attract investments in 2024. However, the regulator did not permit the issuance of securities. This was due to the company’s non-compliance with the Corporations Act.
Meanwhile, NSX is positioning itself as an alternative to the Australian Securities Exchange (ASX). The platform aims to help small-capitalisation companies grow the liquidity of their securities.
Other projects
In 2020, the National Stock Exchange of Australia formed a partnership with iSignthis (ISX). This collaboration aims to create a blockchain-based platform for digital securities. The agreement included a number of conditions:
1. iSignthis invested US$4.2 million in NSX via a private placement.
2. As a result of the transaction, the company acquired approximately 13% of the exchange’s shares.
3. iSignthis holds a 59% stake in the new ClearPay platform.
ClearPay is a competitor to the ASX in the digital asset segment. The platform greatly simplifies trading operations and ensures the procedure is transparent. It provides multi-currency support thanks to blockchain technology.
The exchange intends to increase its competitiveness by using innovative technologies. In turn, the introduction of blockchain opens up new opportunities for both sellers and buyers.
The ClearPay platform was officially launched in 2021. It is currently available to market participants and registry operators. NSX acts as the central authority for the system.
Currently, the exchange is testing various scenarios for integrating blockchain technology into its operations. However, full implementation is currently limited by technical and regulatory barriers. Australian legislation has so far adopted a cautious approach concerning digital assets. Nevertheless, NSX and iSignthis are actively developing their platform. Their goal is to make it as user-friendly and useful as possible.
