Moneymax to raise $15m-$20m from tokens issuance

The tokens will have a 5.25% interest rate per annum.

MoneyMax Financial Services Ltd. hopes to raise $15m to $20m from its Series 008 Tokens issuance under its $100m unsecured commercial paper programme.

In a bourse filing, the company said the tokens will bear an annual interest rate of 5.25%.

The issuance will mature on a date falling on the expiry of three months from the date of issuance of the digital tokens.

The company will issue the Series 008 Tokens to accredited and institutional investors and list them on the ADDX Exchange.

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