pitchIN, Malaysia’s digital fundraising and investment hub, has launched PSTX, the country’s first equity crowdfunding (ECF) secondary market.
This new platform allows investors to trade shares in businesses that raise funds on pitchIN, similar to international platforms like Seedrs in the UK and StartEngine in the US.
PSTX offers ECF investors the ability to manage their portfolios more flexibly, providing opportunities to either invest further or exit their investments easily.
It also allows investors who missed out on initial ECF deals another chance to invest in growing companies.
PSTX will open for trading at 10 am on 10 July 2024 with ten companies listed initially. pitchIN said that more companies are due to be listed in the coming months.
The first ten companies to be traded on PSTX include Commerce.Asia, Gobuilders Netsoft (GoLog), Goobat, Mereka Innovative, NuVending, Signature Snack, SilentMode, Speedhome, Synergy Four (Oxwhite), and Vacrea (Cauli & Rice).
The market, which is free to use, will be open every Wednesday and Thursday from 10 am to 5 pm, with orders placed from 10 am onwards on Tuesdays.
The market will be closed on national public holidays that fall on trading days.
PSTX is regulated and operated by pitchIN, ensuring safe investment in the private market.
To trade, users must open an account with pitchIN and complete the necessary KYC processes.
The market will operate on a cash upfront basis, requiring users to have the necessary funds in their accounts before placing bids.
pitchIN’s ECF platform has assisted over 177 businesses in Malaysia to collectively raise more than RM325 million.
Sam Shafie, CEO of pitchIN said,
“Introducing PSTX is the next natural step for us to realise our vision of becoming a complete fundraising and investing hub for private companies.
We decided to introduce PSTX because it benefits both investors and the businesses themselves as investors can choose to exit while businesses can gain new backers even when they are not actively fundraising. It is a win-win situation for all.”
Kashminder Singh, CSO of pitchIN said,
“PSTX will boost investor choice and confidence with liquidity options, information and transparency. Companies listed on PSTX will benefit as their participation will enable them to enhance their reporting and governance levels. Importantly, this is just the start of the PSTX journey for pitchIN.
We are taking a measured and learning approach to growing our secondary market, which is why we are starting with 10 companies. Over time, we will be introducing more enhancements and innovations to our platform.”
Featured image: From left: Xelia Tong (COO of pitchIN), Sam Shafie (Co-founder & CEO of pitchIN), Kashminder Singh (Co-founder & COO of pitchIN), Steven Wong (CTO of pitchIN)
