September 10, 2019 MERJ Exchange has launched the first blockchain-based IPO.

MERJ, the national stock exchange of Seychelles, began selling tokenized shares in its equity this morning. 1,652,893 new shares will be issued at an initial price of $2.42 per share, valuing the firm at $25M. The shares are available for purchase through broker-dealer Jumpstart, custodian Prime Trust, and MERJ itself. Last month, MERJ also became the first national stock exchange to list a tokenized security.