Deals & Cases

Deals & Cases

October 2018

Mt Pelerin's public offering of tokenized shares starts

Mt Pelerin Group SA (Mt Pelerin) launched its public sale of tokenized shares on 30 October 2018. As part of this transaction, Mt Pelerin offers for sale up to 5% of its share capital in a public offering. The proceeds of the offering will be used to cover certain costs relating to the company's project to apply for a banking license in Switzerland.

The shares of Mt Pelerin have been incorporated in tokens issued on the Ethereum blockchain. The tokenization of Mt Pelerin's shares was achieved using the methodology developed by the Capital Markets and Technology Association (CMTA), of which Mt Pelerin is a member. Mt Pelerin is thought to be the first Swiss company to tokenize its shares.

Lenz & Staehelin advised Mt Pelerin on this transaction. The team was led by partner Fedor Poskriakov (Banking and Finance, FinTech) and included associates Isy Isaac Sakkal (Banking and Finance, FinTech), Ariel Ben Hattar and Alessandra D. Läser (both Capital Markets, Corporate and M&A).

 

 

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