Thailand’s digital asset market has been bustling after XSpring Digital, an ICO portal service provider, obtained approval from the SEC and has been successful in attracting high subscriptions to “SiriHub Tokens”, Thailand’s first real estate-backed ICO, that started to be officially offered to the public on 21 September 2021.
Only a week after the subscription period started, the amount of investment from ultra-high net worth and retail investors combined has reached more than 90% of a total offering, or over 2,200 million baht, creating a new phenomenon with a public ICO platform. Distinctive features allow all groups of investors to invest in the real estate project, worth billions of dollars, equally, with a minimum investment of only 10 baht, and have a high-value underlying asset.
The project offers a high stable gain during the 4-year project period from the rental income of the Siri Campus, the headquarters of Sansiri Public Company Limited, a real estate company with a very high credit rating. Moreover, the future land valuation shows the high potential of the underlying asset to increase in value.
Investors are recommended to seize this opportunity to subscribe as soon as possible as only 200 million baht currently remains. Subscription can be made easily via XSpring app, 24/7 prior to the end of the subscription period on 4 October 2021.
“XSpring Digital is delighted to be the pioneer of investment tokens offering in Thailand,” said Mr. Att Tongyai Asavanund, Chief Executive Officer of XSpring Digital Company Limited. “We launched SiriHub, Thailand's first investment token, faster than competitors. As the SEC-approved ICO portal, it shows that XSpring Digital is stable, transparent, and strictly abides by investor protection mechanisms. We decided to offer the real estate-backed ICO, which is the most popular type of digital tokens in international markets, because of its high stability and low risk. These factors make XSpring Digital confident in offering a range of investment products that will break the limits of all other traditional investments. Investors and the general public can be assured that SiriHub Investment Token is a new investment opportunity with full potential to offer returns and benefits that are definitely worthwhile.”
SiriHub Investment Tokens are divided into two tranches: SiriHubA and SiriHubB. SiriHubA provides a revenue share of up to 4.5% per year, while SiriHubB offers a revenue share of up to 8.0% per year. In addition, both tranches will receive the distribution of net asset sale proceeds at the end of the project. SiriHubA holders will receive a final revenue share from the disposal (sale) of the underlying asset at the end of the project to a maximum of 1.6 billion baht prior to SiriHubB holders. SiriHubB holders will obtain their share of the final income from the sale of the underlying asset for the amount that exceeds 1.6 billion baht. The subscription period runs from 21 September to 4 October 2021 at 3.30 PM.
“Whether to invest in SiriHubA, SirihubB or both, investors are encouraged to study and consider details in the white paper carefully and thoroughly as both tranches have their own unique advantages,” Mr. Asavanund added. “In terms of a quarterly return, SiriHubB offers a quarterly revenue share of up to 8% per year; while SiriHubA offers 4.5% per year. However, SiriHubA has a unique condition that after the completion of the 4-year project, SiriHubA holders will receive a final revenue share from the disposal of the underlying asset before SiriHubB holders. This special condition ensures SiriHubA a higher potential capital preservation. Also, during the 4 years of the project, both tranches will receive the stated quarterly returns, all of which are clearly a lot higher than the current fixed deposit interest rate in banks. After 4 years, when the project matures, Siri Campus Office Building, which is the project’s underlying asset, will be put to auction; and the net asset sale proceeds will be distributed to Token holders. SiriHubA holders will receive a share of revenue from the net asset sale proceeds up to1,600 million baht prior to SiriHubB holders, who will receive the amount that exceeds 1,600 million baht. Based on the current land value appraisal, there is a very high possibility that the underlying asset will be able to sell for over 2,400 million baht, meaning that SirihubB holders will have a capital gain potential.”
“Once the tokens have been allocated to investors, they can trade the tokens in the secondary market, which is ERX Company Limited, in which XSpring Digital has partnered. ERX has received approval from the Ministry of Finance and a license to operate as a regulated digital asset exchange from the SEC, so all investors can be assured of reliability and security.”
“Now is the final call for investors or anyone who is interested in investing securely with 'SiriHub Token'. Subscribe now via XSpring Application, which is available on both iOS and Android systems before the subscription period will end on 4 October 2021 at 3:30PM. There are only a few days left. Early birds who foresee and seize opportunities will get higher chance of generating stable incomes and returns, compared with those who wait to invest in the secondary market.”
