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Croatia's Rimac affiliate Greyp Bikes launches equity token offering

Author Iskra Pavlova
Croatia's Rimac affiliate Greyp Bikes launches equity token offering Photo: Greyp

ZAGREB (Croatia), September 23 (SeeNews) - Croatia's Greyp Bikes, an affiliate company of Rimac Automobili, has launched an equity token offering (ETO), hoping to collect up to 4.8 million euro ($5.3 million) in fresh capital, blockchain-powered fundraising platform Neufund said.

The subscription opens on September 23 and will last for 14 days, including the whitelisting, information on Neufund's website showed. Public sale will be then open for 30 days.

Greyp's ETO will be the maiden equity offer to be carried out by Neufund, after the latter received earlier this month a clearing from Liechtenstein’s Financial Monetary Authority to launch offerings targeted at retail investors.

"By using blockchain technology to tokenise our shares, we give the investors a new, modern way of investing, allowing for increased liquidity in the future secondary market as well as attracting multiple like-minded individuals who share our vision of future mobility," Greyp said in its prospectus posted on Neufund's website.

"Our current B2C focus is on the European e-bike market, with an emphasis on the DACH region (Germany, Austria, and Switzerland). On the other hand, we are open to providing our systems and services to B2B partners worldwide," the Croatian high-tech firm said.

In the ETO, each Greyp token is worth 0.16167 euro, with one million tokens comprising one share.

Greyp aims to sell to interested investors at least 6 and up to 30 shares at a price of 161.87 euro each, aiming to collect fresh financing ranging from 971,200 euro up to 4.8 million euro.

The minimum investment is 100 euro, as the shares could be also paid in the ethereum cryptocurrency, in which the future dividends will be paid out to owners.

Greyp was founded by Mate Rimac as a department in hypercar manufacturer Rimac Automobili. It span off Rimac Automobili in 2013 to focus on the development of light electric vehicles.

Mate Rimac controls 42% in Greyp, followed by China's Camel Group with 17%, Porsche Engineering Group with 11%, businessman Adriano Mudri with 11% as well, China Dynamics with 7%, New Automotive Development LLP with 4%, and the remainder belonging to smaller shareholders, according to the company's prospectus.

($=0.910375 euro)