Investment firm GRIP, member of DIFC, issues region’s first ever digital securities

Dubai International Financial Centre, DIFC, has announced that investment banking and wealth management firm, GRIP, will conduct a multi-million dollar capital raise for Lead Real Estate this month, through the innovative issuance of digital securities representing investor shares. The issuance is the first major globally compliant digital securities offering in MEASA, marking a key milestone for DIFC and Dubai. GRIP is also on course to establish a private securities marketplace within the Centre, a first for the region.

The announcement reinforces DIFC’s vision to drive the future of finance. The issuance also cements the DIFC’s position as the financial hub in the region, thanks to its robust, yet innovative legal and regulatory framework which helps nurture innovation and adoption of technology.

DIFC’s regulations, laws and structures have enabled GRIP to become the first company in the MEASA region to establish, manage and distribute an international capital raise using Digital Securities as a medium of issuance.

The offering involves a collaborative effort by reputed lawyers, service providers, technology providers and regulated firms from across the world, including UAE, the US, Japan, Hong Kong and the Cayman Islands.

GRIP is leading the capital raise for Lead Real Estate, a Tokyo headquartered residential and commercial developer focused upon the planning, acquisition, renovation and repurposing of real estate assets, with some of their projects being developed to leverage on the opportunities arising out of the 2021 Tokyo Olympics. Lead Real Estate’s assets are spread across Japan, America, Hong Kong and the Philippines.

Dubai continues to be recognised on the global stage as a dynamic business environment where innovation thrives. DIFC offers all the elements found in the world’s most successful financial industry ecosystems. This includes an independent regulatory and judicial system, a global financial exchange, access to funding, an enabling sector environment, and the region’s best talent pool.

Commenting on the announcement, Arif Amiri, Chief Executive Officer of DIFC Authority, said: “Congratulations to GRIP for launching this innovative digital security capital raise. We are pleased that DIFC’s robust yet forward looking legal and regulatory framework is providing GRIP with a platform to deliver a first for the Centre and MEASA region. Innovation like this will propel economic development in the region and illustrates how DIFC is driving the future of finance.”

“We are excited, and believe this will be the first of many issuances to come to market using this innovative technology,” states Tony Pettipiece, Chairman of GRIP, “At GRIP we are keen to be involved with cutting edge investment opportunities, and our pipeline is made up of Green Bonds and Impact investments from clients that range from Japan, Mexico, Georgia and the GCC region”, added V Gowribalan, CEO of GRIP.