Income Insurance debuts in AltaX

Income Insurance shareholders can sell their shares to Phillip Securities.

Alta and Phillip Securities (PSPL) announced the inaugural trade for the first tranche of shares from Income Insurance shareholders, as part of the Income Insurance Share Liquidity Programme launched earlier this year.

This programme provides a liquidity solution to approximately 16,000 shareholders holding shares valued at up to S$840m ($619m).

ALSO READ: Income Insurance shares enter private securities exchange through partnership

Additional windows for Income Insurance shareholders to sell their shares to PSPL will follow later this year.

Through this liquidity programme, all Income Insurance shareholders can sell their shares to PSPL, which will then list them on AltaX for trading by investors.

To date, Alta has completed transactions worth $700m and enabled investments in over 100 unique companies, with significant year-on-year growth in trading volumes.

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