ITI Capital and OKONTO to launch Gett-linked STO at pre-IPO stage
June 19, 2019
Everyone will soon be able to become a Gett shareholder. Starting from July 15, the ability to invest in tokenized securities (security tokens), backed by Gett preferred shares, will be available to both individuals and professional investors.
OKONTO, a digital platform of a new generation together with a global brokerage group ITI Capital will provide a unique opportunity to invest in previously unavailable Gett shares at the pre–IPO stage.
Both individuals and professional investors who have passed the identification procedure will be able to become shareholders of Gett and invest at a valuation of USD 1 billion. The minimum investment for all classes of investors is 415 euros.
STO is a form of equity financing for a company by distributing tokenized securities (security tokens) to investors. Security tokens certify the ownership and give the owners the right to realize their investment interests (the right to dividends, a share of profits, etc.). Security tokens are issued in accordance with the legal regulations of the issuer's country, as well as investors — purchasers of security tokens.
GTT security tokens are backed by shares of the DVC Drive Tech SP, which belongs to the family of funds of a multi-asset fund platform ITI Funds, and managed by a global private equity fund manager Da Vinci Capital and linked to Gett preferred shares. Tokens will be available during the STO, which is scheduled to launch on July 15 at www.okonto.com.
The market for pre-IPO shares of large companies has traditionally been open only to large institutional investors, such as banks and funds, whose minimum investments start from several million euros. Blockchain technology provides new investment opportunities through the tokenization of the company's securities and holding STO (Security Token Offering) in full compliance with European legislation.
"We see enormous potential in the security token market for private equity funds and private companies as well as for small investors that previously did not have access to the 'closed club' of private deal investments in high quality businesses such as Gett. There is a clear synergy and a win-win opportunity whereby funds and companies can reach out to new capital, whilst retail clients open up new horizons of investing in private companies at a pre-IPO stage. Such investments happen in a very transparent manner, regulated and governed by the EU legislation.
New security token market will, most certainly, create a bridge between retail clients willing to accept the risks associated with investing in private companies and the funds looking to raise capital" — comments Andrey Chuprin, Managing Director of ITI Capital.
To participate in security token offering and purchase GTT tokens, each investor must register and pass verification on OKONTO. After verification is complete, investors can purchase tokens using credit card, cryptocurrency or bank transfer. The investment procedure does not require skills other than usual user experience.
Gett is a global transport network and a leader in the corporate segment of the taxi market. Gett service is represented in more than 120 cities around the world. The Gett solution for corporate clients, known as Gett for Business, provides companies with the opportunity to receive taxi services and track travel expenses worldwide using a single platform. More than 20,000 companies use Gett for Business to hail taxis in more than 6,000 cities in 135 countries.
OKONTO is an online platform where users can participate in STO, invest in tokenized securities, buy and sell popular digital assets. The company's activities are regulated by Estonian law in accordance with EU regulations and complies with the regulatory requirements of the Know Your Client (KYC) and Anti Money Laundering (AML) procedure. The company has a license to operate as a financial institution, a license to provide services of exchanging a virtual currency against a fiat currency, a license to provide a virtual currency wallet service, certification of leading cryptocurrency exchanges.
ITI Capital is a leading emerging markets brokerage firm focused on technology, prime services, algorithmic trading, and, in partnership with ITI Funds, selected buy-side products. With the backing of Da Vinci Capital, ITI Capital has built its proprietary front-to-back technology into a high-quality product that is scalable into global markets. ITI Capital holds a number of brokerage and asset management licenses, including the FCA license, GFSC license and license from the Bank of Russia. ITI Capital was ranked as #220 in the Deloitte's EMEA Technology Fast 500 ranking.
ITI Funds is a diversified multi-asset platform for independent asset managers allowing for set-up and management of hedge funds, ETFs, crypto focused funds supported by leading institutional service providers. ITI Funds is uniquely positioned across key financial centres to offer unparalleled access to a new generation of investment products to its target investors. The company is the only Luxembourg licensed ETF provider focused on the Russian market. Currently there are 10 funds on the platform with total AUM more than $150 million.
Da Vinci Capital
Da Vinci Capital is one of the leaders in asset management in emerging markets. Da Vinci Capital has more than $400 million under management in the following funds: Fund I, Fund II, Pre-IPO Fund and co-investment funds.The portfolio of funds managed by Da Vinci Capital includes, inter alia, shares in the B2B-Center electronic trading system, First Collection Bureau, ITI Group financial and technological group, ITI Funds fund platform, global provider of IT-services Softline, global taxi service Gett and DataArt IT Consultant. Recent exits from investments include EPAM (NYSE: EPAM) and Moscow exchange (MCX: MOEX).