1exchange Welcomes Listing of JOCOM, Malaysia's Fastest Growing Mobile Groceries and Shopping Platform
JOCOM is the Third Company to List on 1exchange, the Leading MAS-Regulated Private Securities Exchange in Singapore
- Jocom International Holdings SDN. BHD. ("JOCOM") operates a leading M-Commerce platform in Malaysia specialising in online grocery shopping via mobile smartphones
- The popular grocery and lifestyle shopping app provides a total integrated solution that serves both vendors as well as shoppers
- JOCOM’s listing on 1exchange comes on the back of accelerated consumer demand for convenient mobile grocers and the increasing number of vendors seeking alternative channels to engage customers
SINGAPORE, March 18, 2021 /PRNewswire/ — 1exchange ("1X"), Singapore’s first regulated private securities exchange and a member of leading integrated private market ecosystem CapBridge Financial, today announced the direct listing of Jocom International Holdings SDN. BHD. ("JOCOM"), operator of leading Malaysia-based M-commerce platform JOCOM. The JOCOM mobile app connects over 500 vendors providing over 15,000 products with about 3 million customers across the whole of Malaysia.
About 26.7% of JOCOM total shares outstanding were listed on 1X at an aggregate value of S$5.6m. The 1X listing process was conducted entirely online and facilitated by the CapBridge platform.
Mr Joshua Sew, CEO of JOCOM, said, "In the past year, the demand for our integrated M-commerce solution has grown exponentially across both consumers as well as merchants and vendors.
JOCOM has enabled traditional businesses to tap on the power of digital technology to engage existing and new customers, connecting many rural farmers and traders with affluent consumers seeking quality products in a convenient way. With this listing on Singapore’s 1Exchange, we look forward to going further to serve our shareholders, customers, and partners with even more innovative mobile commerce solutions."
Mr Choo Haiping, CEO of 1X, said, "We are pleased to welcome JOCOM, Malaysia’s fastest growing mobile commerce platform. For many customers, JOCOM’s specialist mobile app has been a reliable, convenient, and efficient one-stop shop for their groceries and lifestyle needs. JOCOM has also contributed greatly to the digital transformation of many traditional businesses in Malaysia, through its accessible mobile commerce solutions. JOCOM can count on the 1X platform as it continues on its growth journey."
Based in the global financial hub of Singapore, 1X is the first regulated private securities exchange with a Recognised Market Operator licence granted by the Monetary Authority of Singapore ("MAS"). 1X is part of CapBridge Financial, backed by Singapore Exchange ("SGX"), SGInnovate, South Korea’s Hanwha Investment and Securities Co, Hong Kong’s Cyberport Macro Fund, and AMTD Digital.
Mr Mohamed Nasser Ismail, Senior Vice President and Global Head Equity Capital Markets, SGX, witnessed the listing and added, "As a strategic partner and shareholder of 1X, SGX is pleased to witness the continued interest by many growth companies to seek a listing on the private exchange. I am heartened at the listing of JOCOM, which adds to the vibrancy of the broader capital markets and provides shareholders and other interested investors a market for tradeable private equities. We look forward to supporting JOCOM and other such companies to prepare for an eventual public listing when they are ready."
The direct listing on 1X was marked by a virtual gong-striking ceremony this morning, attended by representatives from JOCOM, placement agent CapBridge Pte Ltd, trust administrator Equiom Singapore, as well as strategic partner and shareholder SGX.
On 1X, private companies and funds have the flexibility to list a portion of their shares in the form of tradeable private equities. A direct listing on 1X enables companies to simply convert their existing shares to tradeable shares, in a cost-effective and efficient manner. This regulated asset class traded on 1X provides investors additional portfolio diversification with higher-than-market returns potential, while giving shareholders options for exits.
 Subject to closing conditions and MAS approval
A member of CapBridge Financial, 1X is the first MAS-regulated private securities exchange in Singapore and widely regarded as the third board in the global financial centre.
Built on the blockchain, 1X is a "light-touch" and cost-effective private listing venue designed for family businesses, as well as growth and pre-IPO companies.
The exchange provides companies with market-oriented solutions such as direct private listings and employee share trading. With a 1X listing, founders, owners, and growth stage companies can achieve partial exits and tradeability in private shares while retaining flexibility and control.
Private investors on 1X can freely and securely trade in and out of their positions to achieve liquidity anytime, anywhere.
For more information, visit https://www.1x.exchange
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