Digital securities exchange Alta has partnered with PhillipCapital to introduce the Income Share Liquidity Program, a liquidity programme for shares of Income Insurance.
This is the largest listing of a non-listed company on a private securities exchange, allowing institutional and accredited investors to trade and own the shares of a non-publicly listed company.
Shares of Income Insurance listed on Alta’s exchange arm AltaX will be available for trading by the platform’s extended network of global institutional and accredited investors.
The member-driven exchange model provides an avenue for member brokerages and their investors to invest and trade the shares of an established insurance provider in Singapore and in the broader Asean region.
Earlier this month, Alta welcomed several new member firms, including Evolve Capital Advisory in Singapore, Hong Kong brokerage firm Quam Securities as well as asset management firms Rockpool and Cachet, both based in Hong Kong.
The onboarding of the new member firms broadens the scope of Alta’s investment opportunities while also integrating new networks of investors from across the globe. This brings the total member firms trading on AltaX to 8. In comparison, the NYSE began trading with 27 member firms.
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In 2023, Alta’s exchange witnessed substantial activity, with bid and ask orders accumulating to over US$195 billion.
