Taiji Capital Group launches real estate fund STO, aiming to raise approximately HK$100 million

Odaily Planet Daily News Taiji Capital Group today launched a real estate fund security token issuance (STO). The closed-end fund of its subsidiary Pioneer Asset Management issued the token PRINCE for professional investors with a target of raising approximately HK$100 million. If regulatory approval is obtained, the group plans to use the tokens to list its virtual asset trading platform HKbitEX in the future. The token is called PRINCE token, and the entry fee is only HK$1,000. When the token is listed on the virtual asset trading platform, it can be traded in the secondary market 24 hours a day in the future. The investor's ownership is also clearly recorded in Ethereum or other blockchains. Above, investor returns include rental income and future property appreciation. Zhang Zhongyu, vice president of capital markets and wealth management business of Taiji Capital Group, said that after investors sign the subscription agreement, they open an account with their wallet and the corresponding tokens will be distributed after successful subscription. If there is a loss such as tokens being stolen, at the request of the China Securities Regulatory Commission, the fund company will "guarantee" compensation to investors. (Economic Journal)