Tuesday, 19 October 2021

AMTD to take majority stake in CapBridge Financial

AMTD Digital, the integrated digital platform arm of Asia financial services focused conglomerate AMTD Group (AMTD), and CapBridge Financial (CapBridge), Singapore’s integrated private market ecosystem with a platform listing over $2 billion of investable deals, announced a strategic partnership to expand the global digital assets exchange platform with financial centre Singapore as a key operations and growth hub.

AMTD will also become a majority shareholder of CapBridge Financial via its unique “fusion-in” programme that includes a share swap and completely aligns the interest of shareholders on both sides, subject to the Monetary Authority of Singapore’s (MAS) approval. 

The partnership will combine the private market and digital assets exchange expertise of CapBridge Financial and the supreme connectivity and interconnected digital solutions platform strength of AMTD Digital. AMTD Group’s subsidiary AMTD International is dual-listed on the New York Stock Exchange and Singapore Exchange Mainboard.

With AMTD’s overall leadership and support, CapBridge will bring together private capital markets expertise and leading-edge financial technology, such as blockchain and robo-advisory to further develop the global private markets and digital asset space from its Singapore headquarters.

Calvin Choi, AMTD Group’s chairman and chief executive officer (CEO) as well as AMTD Digital’s chairman, commented, “Singapore is an important hub for global fintech community and its ongoing development. AMTD sees the supreme potential of CapBridge’s technological and commercial growth in the Southeast Asian digital asset space and beyond. By becoming the controlling shareholder of CapBridge, we are adding another valuable enterprise to our proprietary and unique AMTD SpiderNet ecosystem.”

“Our broad experience, credentials and resource network in various new economy sectors will combine to provide unwavering support to CapBridge in its continued growth, injecting fresh momentum into Singapore, Hong Kong and the rest of Asia’s digital asset sector. CapBridge will significantly add to our strategy in serving Asian corporates across their different life stages, provide complete value chain solutions to cover all stages of financing needs. I am very confident in Johnson’s entrepreneurial spirit and leadership skills, and look forward to supporting him to unlock the full potential of the digital private markets globally,” Choi added.

Johnson Chen, founder and CEO of CapBridge, said, “The Capbridge private markets solution is designed to help growth companies, family owned businesses as well as institutional and individual investors unlock value in a secure and efficient ecosystem. Being cloud native, CapBridge is entirely digital in our approach to capital raising as well as private equity investing. The current COVID-19 pandemic has underscored the importance of digital facilitation and interconnectivity when it comes to accessing institutional-grade opportunities. We look forward to combining CapBridge’s offerings with AMTD’s resources and network, digital financial services licenses and institutional investors network to create even more vibrancy and value in Singapore, regional and global private markets.”

The CapBridge Financial private markets solution helps companies and investors unlock value via a uniquely integrated primary syndication and secondary trading approach. Based in global leading financial centre Singapore and regulated by the MAS, CapBridge Financial holds a Capital Markets Services Licence through its primary online syndication platform, and the Recognised Market Operator Licence through Singapore’s first regulated private securities exchange, the blockchain-based 1exchange.

This controlling stake into CapBridge demonstrates AMTD’s commitment to building a Singapore-centric Asian fintech platform to expand and span across Southeast Asia, connecting the ASEAN markets with the Greater Bay Area and the rest of China. With Singapore as its headquarter base, AMTD Digital is progressively expanding to other economies across Southeast Asia. Its wide-open, multi-dimensional strategic partnership and powerful ecosystem, AMTD SpiderNet comprises its clients, shareholders, business partners, industry associations, academic institutions and investee companies in an inter-connected network that creates value for all stakeholders.

This transaction is subject to approval from the MAS and closing conditions. Upon completion, CapBridge will join the AMTD ecosystem as a subject matter champion to develop and expand in the global digital asset exchange sector. AMTD will significantly strengthen CapBridge’s deal sourcing, product innovation, customer acquisition, investor servicing capability as well as research and data intelligence capabilities, leveraging on AMTD’s SpiderNet ecosystem and supported by AMTD International.

CapBridge recently announced investments by Singapore government-owned SGInnovate and Hong Kong SAR government-owned Cyberport, marking the next phase of public-private partnerships for the private markets group.

Re-disseminated by The Asian Banker

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