ValueMax Group has raised $45.14 million after successfully closing its three-month Series 005 issuance.
The digital securities, which were launched on Nov 25, will be listed on the ADDX digital platform on Dec 19.
Among the subscribers, ValueMax’s controlling shareholder, Tan Hong Yee, as well as shareholders, Yeah Chia Wei and Yeah Chia Kai, had subscribed for $7.66 million, $1.60 million and $0.3 million respectively.
Tan is the spouse of Yeah Hiang Nam, the founder, executive chairman and controlling shareholder of the company.
Yeah Chia Wei is the son of Yeah Hiang Nam and is the company’s chief credit and risk officer. Yeah Chia Kai is another of Yeah Hiang Nam’s sons and is the CEO of the company.
Shares in ValueMax closed flat at 33.5 cents on Dec 16.
