On Tuesday, companies registered with three partner NYSE under the AMTD Group proposed encryption Conversion program This allows the holder to exchange newly issued shares based on the exchange of Bitcoin, Ethereum, USDT, Binance BNB and USDC.
AMTD Idea (AMTD), AMTD Digital (HKD) and Generation Essentials Group (TGE) can form programs with pricing set by mutual agreement at general market values and split the allocations into three publishers.
Framing the plan as a “conduit and effective means” for portfolio diversification, the group said the issuance “will serve as a bridge that connects the world of crypto assets with one of the world’s leading stock exchanges.”
To embody what it advertises as “adjacent products,” the group points out its media, hospitality and education footprint as a delivery-based.
Headquartered in France in Singapore, AMTD operates digital media, marketing, investment and hospitality/VIP services, while TGE owns French fashion magazines and Art Newspapers. It also operates entertainment projects and premium properties.
The group argues that these assets will be used to support crypto holders “facilitate their experience and better,” supporting packaging assets, leisure, VIP experience, and financial education.
The proposal also includes US depositary stock, which is a US trading stock issued by a depository bank representing a certain number of foreign issuers’ common stock among the securities that could be issued to crypto holders seeking to convert assets.
It is worth noting that the three are small to small publishers, due to the size of the market capitalization. amtd It has around $176 million HKD It has about $509 million tge According to each Google Finance data dashboard, the market size is $161 million.
Of the three, only AMTD stock was actively closed at 1.9%, while the other two fell 3.5% and 6.2% respectively after the announcement.
The announcement disclosed launch timeline, geography, investor eligibility, issuance cap, lockup, KYC or custody, or settlement mechanics, saying it was not an offer or solicitation.
Decryption We contacted the group to comment whether the issuance would be registered, made in a private placement, carried out as an offshore transaction, and whether US people were eligible.
