ISOTeam raises $5.43m via SDAX digital debt platform

The issuance included $500,000 from company directors through ADD Investment Holding.

ISOTeam Ltd. announced the successful close of its 3-month Series 004 commercial paper (CP) issuance on the SDAX digital securities platform, raising $5.43m from accredited and institutional investors, according to a filing with the Singapore Exchange.

The issuance, launched on 10 March, closed on 24 March at 11:30 a.m. Singapore time. The digital securities will be issued to subscribers on the SDAX platform on 24 March.

Amongst the subscribers, Ng Cheng Lian, Koh Thong Huat, and Foo Joon Lye, through ADD Investment Holding Pte. Ltd., subscribed for $500,000, representing 9.2% of the issuance. Ng is Executive Chairman, Koh is CEO, and Foo is Operations Director of the company.

The company said it will make further announcements if there are material developments regarding the SDAX Multicurrency CP Programme or the Series 004 issuance.

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