J Ventures goes for ICO
Jay Mart Plc's 80 per cent-owned subsidiary J Ventures Co Ltd is going ahead with a plan to raise capital by "JFin Coin" through initial coin offering (ICO).
Adisak Sukumvitaya, chief executive officer, said of the 300 million JFin Coins, 100 million will be offered at the ICO at Bt6.6 apiece for Bt660 million.
The proceeds will be used to finance development of Decentralized Digital Lending Platform (DDLP).
In the initial phase, the platform will be used for JFintech Co Ltd's credit extension to other companies. The ICO's pre-sale are scheduled for February 14- 28. The ICO subscription period will be March 1-31.
