Ether Capital’s stock began trading on Toronto’s NEO Exchange on April 19th. Although falling short of expectations, the company has managed to raise $45 million CAD, according to Ben Roberts, the chief information officer of the company.
The trading will be done under the symbol ‘ETHC’ and its ETHC shares are currently trading at $2.45 USD.
Operating in the cryptocurrency industry is not easy. However, Mr. Roberts said that setting up Ether Capital was simple. First, they had to seek approval from Ontario Securities Commission and later talking to banks and setting a custody solution to keep the assets safe.
The company recently rebranded from ‘Ethereum Capital’ after it announced its ‘reverse takeover transaction’. He wished to convert about 90 percent of the raised funds into ETH tokens. However, he does not disclose how many have already been purchased.
Earlier the company wanted to issue 20 million shares priced at $2.50 each but could manage to sell only 18 million shares.
Initially, Ether Capital had planned to invest a majority of its funds in the token ‘Ether’ and hope to acquire the same through exchanges or brokerages approved by the company.
Som Seif, Executive Chairman and Co-Chief Investment Officer of Ether Capital said:
“The completion of this transaction and commencement of public trading represents a critical step in Ether Capital’s mission,”
He further added:
“We are excited to provide investors with the opportunity to invest in the first publicly listed company focused solely on the Ethereum ecosystem and to help drive industry-shifting disruptive technologies,”
Boris Wertz, Lead Independent Director of Ether Capital said that he has the opportunity to experience the innovation that blockchain technology was bringing about, through Version One. He said,
“The combination of resources and industry-leading expertise that Ether Capital has allows us to be at the forefront of this innovation and capitalize on opportunities in the sector.”
The post Ether Capital commences trading on Canadian stock exchange appeared first on AMBCrypto.