By The Nation
The MoU will see CIMB Bank and CapBridge collaborate to offer the bank’s customers in Malaysia, Singapore, Indonesia, Thailand and Cambodia access to private capital and liquidity through the holistic CapBridge private capital ecosystem, Victor Lee Meng Teck, CEO of group commercial banking for CIMB Group, said yesterday.
The CapBridge Investment platform is a private capital-raising platform for companies needing funding for growth and pre-IPO companies. Meanwhile, 1X is a trading platform which facilitates a buyer-seller match for private securities listed on the exchange by using blockchain to register and track the shareholdings of investors who trade on the platform.
The wide-ranging partnership provides a unique value proposition to CIMB’s SME and mid-sized corporates looking to raise capital |and have part of their shares traded, while also remaining private and in full control of the operations.