Intraco raises fresh funds via dual-currency digital commercial papers on SDAX

What's the deal? Singapore-listed Intraco Limited has issued its 29th series of Singapore dollar and 22nd series of US dollar digital commercial papers through the SDAX Exchange. The SGD notes, carrying 3.4% interest over 42 days, raised S$22.46M from accredited investors. The USD notes, at 4.5% over the same period, raised $5.68M.

Intraco, which has a market cap of S$42.87M, structures its commercial papers as digital securities — essentially tokenised debt instruments. It operates its capital markets activities through SDAX, a Singapore-based digital securities exchange.

Source: TipRanks