The Dubai International Financial Center (DIFC) has used a technology that is the first of its kind in the region, where GRIP - the investment banking and wealth management company based in the center - led The process of raising the capital of Japan's Lead Real Estate, using digital securities representing investor shares.
According to the Emirates News Agency, this issuance using digital securities is the first operation of its kind according to global compliance rules at the level of the Middle East, Africa and South Asia, which is an exceptional achievement Dubai and the Dubai International Financial Center, where Grib is working to establish the first private stock market within the center for the first time in the region.
This announcement reinforces the vision of the Dubai International Financial Center to lead the future of the financial sector, and establishes its position as the leading financial center in the region, thanks to its innovative and robust legal and legislative framework, And who supports the process of innovation and adopting the latest technology, as laws, legislations and regulations in the financial center played a role in enabling Grib to become the first company in the Middle East, Africa and South Asia to establish, manage and distribute the capital increase process using digital securities as an issuance.
This achievement is the result of cooperation and joint efforts by a group of distinguished lawyers, service providers, technology and organized companies from all over the world, including the United Arab Emirates, the United States of America, Japan, Hong Kong, and the islands. Cayman.
Grape leads this process for the benefit of the Tokyo-based Lead Real Estate, which works in the area of residential and commercial property development with a focus on planning, acquisition and renewal of real estate assets where development is underway. Some of its projects are taking advantage of the opportunities offered by the Tokyo organizing of the 2021 Olympic Games. The company also owns real estate assets spanning Japan, the USA, Hong Kong and the Philippines.
Aref Amiri, Chief Executive Officer of the Dubai International Financial Center Authority, said: We congratulate Grib on launching the process of raising capital using digital securities and we are happy to be the legal, legislative and regulatory system in The Dubai International Financial Center serves as a solid and innovative platform for achieving this first achievement of its kind in the center and the region, which will drive economic development and emphasizes the role of the financial center in leading the future of the financial sector.
For his part, Tony Pettibes, Chairman of the Board of Grape, confirmed the company’s belief that this issuance using digital securities will be a prelude to many upcoming issues in the market using innovative technology.
