26 November 2018, Singapore – Global private capital raising platform CapBridge Pte Ltd (“CapBridge”) and Deloitte Singapore today announced that they have signed a Memorandum of Understanding (“MoU”) to collaborate on 1Exchange (“1X”).
1X is a regulated global private securities exchange in Singapore that will provide private companies the ability to trade in their simplified securities. Deloitte Singapore is the first professional services organisation to strategically collaborate with CapBridge by providing a holistic suite of solutions in areas that include audit & assurance, business consulting, financial advisory, risk advisory and tax services to private companies that will be listing on 1X.
Mr Johnson Chen, Founder and CEO of CapBridge, said, “Deloitte is a trusted advisor for many private businesses. We are delighted to have the support of Deloitte as we work towards launching 1X to provide private companies and investors more options for investments and trade. With our collaboration, private companies who wish to come onboard 1X will be able to seamlessly tap on the Deloitte network’s extensive and renowned suite of holistic professional services.”
Mr Philip Yuen, CEO of Deloitte Southeast Asia and Singapore said, “When it comes to capital raising, businesses find that they need help to navigate through certain complexities and challenges, to which 1X offers an innovative approach that leverages technology to create simple, regulated, and cost-effective liquidity options for both private companies and investors. It is our pleasure to collaborate with CapBridge, complementing CapBridge’s efforts by educating, and offering solutions and options that can empower local private companies to grow and create more value for their shareholders. This in turn means potential new funds flowing into the country, which will increase the vibrancy of Singapore’s business environment and economy. ”
CapBridge has been awarded the Recognised Market Operator Exchange Licence to operate 1X. With the regulated 1X online trading platform, private companies will be able to trade their simplified securities with ease and security. With the support of shareholders including Singapore Exchange (SGX), 1X is designed to improve exit options for shareholders of private companies. Investors and companies interested to find out more about the new exchange can visit www.1x.exchange for more information.