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Shell Summary for Oct. 3, 2019

2019-10-03 21:36 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 2.94 points to 557.78 Thursday. Shay Benhamou has listed his first capital pool shell, A-Labs Capital IV Corp. (ALCC), following a $200,000 initial public offering at 10 cents. The IPO agent was Haywood Securities Inc. The stock has not yet been called to trade.

Mr. Benhamou, 45, lives in Israel and owns a holding company called EDJ Investments Ltd. He previously spent six years as a senior director of Camalia Capital Markets Ltd., an Israeli brokerage firm that focused on foreign securities. Before that, he spent four years as the head of international trading at an investment management firm called Migdal Capital Markets (1965) Ltd., and before this, he spent three years with Gmul Sahar Securities Brokerage Service Ltd.

These days, besides EDJ Investments and A-Labs Capital IV, Mr. Benhamou is the chief executive officer of Airsoft Ltd., a private Israeli tech firm with an on-line trading platform for foreign exchange, derivatives and cryptocurrencies. Airsoft has been trying to help a Gibraltar entity called INX Ltd. to set up, in the United States, a regulated exchange for cryptocurrencies. Since January, 2018, INX has submitted six draft prospectuses to the U.S. Securities and Exchange Commission for a cryptocurrency security called the INX token. Finally, in August, 2019, it submitted the non-draft version. INX is now selling, for its IPO, between $5-million (U.S.) and $130-million (U.S.) worth of INX tokens at $1 (U.S.). After raising money, INX will have several more steps to complete (including obtaining government approvals) before it can launch its regulated cryptocurrency exchange.

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