Unfoldu Group To Launch $100 Mn STO Offering
India, 16 May 2019
-- Unfoldu Group is proposing to raise US $100 mn through a blockchain Securities Token Offering to finance its mega school based online education platform.
Unfoldu Group Limited, Seychelles, the leading India focused online school education platform is proposing to launch US $100 mn Securities Token Offering (STO) in June this year. The company is currently trading at a valuation of close to US $5 billion or INR 35,200 crore.
Unfoldu intends to cash the sudden boom in the blockchain market.
The company will release its white paper early next week covering the details of its business plan.
As per management sources, Unfoldu will use raised investments for the purposes of business expansion and marketing of its educational services in India.
The company is also proposing to pilot test its online school education platform in the US and Canada in the coming few months.
Unfoldu ERC-20 tokens (Symbol: UNFLD) is already listed on InstantBitex exchange and is planning to list on two more exchanges, one of which will be a crypto OTC exchange which will allow investors to buy or sell tokens via phone call or a direct message to their relationship manager irrespective of their investment size. The OTC crypto exchange will also act as a custodian for the investors who finds it difficult to manage wallets and the private keys associated with it.
The total supply of UNFLD tokens stands at 1 trillion tokens, out of which 50% is already issued. The company proposes to burn up to 35% of its total supply post fund-raising to boost up the price.
In the near future, the company may also use its tokens as a currency to transact on its online education platform which will further enhance the liquidity in the tokens.
As per the reports, the UNFLD tokens are priced at $0.01 and will be available to the accredited investors via private placement facilitated through a network of crypto broker dealers in the United States.
Parallel to the ongoing process, the company is also exploring the possibilities of conducting an Initial Exchange Offering (IEO) and is in talks with few of the leading exchanges.
The company through this offering will target investors interested to infuse money in the populous country like India where education is a vital need and is one of the most profitable business.
“A school student goes through lot of hardships like traveling back and forth from the school and competing against other students in a stressful environment. Unfoldu helps a student to learn through graphically engaging content without the need of investing in the private classes or traveling from point to another. A student can study at is own luxury and grasp concepts in a far superior way in comparison to the traditional modes of learning,” said Harish Bajaj, Chairman, Unfoldu Group.
Name: Neeru Arora
Organization: Unfoldu Group Limited
Address: F 384 Industrial Area, Sector-90, Sahibzada Ajit Singh Nagar, Punjab 140307, India
Phone: 085588 23702
Website URL: https://www.unfoldu.com
# # #
Submitted by datwriterguy on Thursday, 16 May 2019 at 12:28 AM
Brought to you by Scoopasia [http://scoopasia.com]