Announcing the Neighbourhoods IPO
Key details on our partnership with the Catalist Exchange and information for existing token holders
We are pleased to announce a partnership with the Catalist exchange in New Zealand, where we are set to hold the Initial Public Offering of the Neighbourhoods Bazaar. It will represent the launch of the marketplace to a wider, public audience using NZ’s legal framework and regulations. Catalist is a leading exchange in New Zealand, offering us an unrivalled gateway to capital from around the world. It has close to 1bn$ under administration, and has hosted hundreds of liquidity events.
We are confident that this partnership will steer the Neighbourhoods project into the next phase: establishing a presence across multiple jurisdictions, and thereby enabling more communities that wish to coordinate at scale. Moreover, it represents a transition towards a community owned organisation in the truest sense, where funders play an active role in governing and steering the project.
For existing token holders: We recently announced that $NHT holders will be able to swap their tokens for equity shares in our Bazaar marketplace. By swapping tokens for equity, $NHT holders can hold an instrument backed by tangible assets and free cash flows.
This transition represents an alignment of the project with the demands of multiple regions and potential user groups around the world - along with support from renowned government and academic institutions.
The swap ratio for NHT to equity is set at 1000:1. In other words, one thousand Neighbourhoods Tokens will purchase 1 ordinary share in Neighbourhoods Bazaar Ltd.
If you hold $NHT, you will soon receive an invitation link to register on Catalist. You will also have the opportunity to check your allocation based on our historical snapshot of NHT holdings, prior to exchanging tokens for shares.
We will also provide support documentation (FAQs) to guide to $NHT holders through the process. Based on feedback from community members, this swap is being structured as an extended offer. This is being done to provide sufficient time for migration to the new platform. We urge you to take your time through this swap. Please note that trading and liquidity will migrate away from older exchanges to Catalist during this period.
The team is available via usual channels to offer clarifications if needed (please allow for adequate response time). Please stay subscribed to these communications for further updates.
And as always, thanks for your support throughout this journey!