Bell Gully advised Capital Trust Group Limited (CTG), a financial technology company, on its recent significant recapitalisation, and has been appointed by CTG to advise on its proposed NZX listing and IPO over the coming months, including liaison with overseas law firms for offers of securities to be made in other jurisdictions.
CTG has secured agreements for the proposed US$2.2 billion wholesale city project called "Trust City" in Thailand, including appointment as the sole asset backed token and Initial Coin Offering (ICO) turn-key solution provider. This project aims to be the largest wholesale city and fintech hub in Southeast Asia by 2020, with 20,000 wholesale clients, 12,000 condominiums, a business hotel and 5 star hotel on site, 30,000 parking spaces, a Fintech business tower, and a related luxury private airport. CTG proposes a Distributed Ledger Platform, powered by Alphapoint Technology, to enable the creation of asset-backed tokens for the prospective 20,000 wholesale clients of Trust City, and also targets to provide asset backed token or ICO consulting services to factories in China via strategic partnerships and for an oil and gas concession of Silver Wave Energy Pte Ltd, a leading oil and gas explorer based out of Singapore.
CTG proposes to float a percentage of its stock to fund business expansion through its roles for these projects and seeks to help position New Zealand as the beneficiary of a significant blockchain exchange hub.
The Bell Gully team was led by Dean Oppenhuis.