BRIEF: DL Group gives timeline for asset tokenization plan

Financial services company DL Holdings Group Ltd. (1709.HK) said on Thursday that it expects to complete work on a cooperation framework and asset valuation in the third quarter for its recently announced plan to tokenize its real-world assets. The company said it aims to launch a platform as part of the plan in the second quarter of next year or later.

DL Holdings announced the tokenization plan last month, involving a maximum of HK$500 million ($64 million) worth of assets. The first batch of assets will include interests in DL Tower in Hong Kong’s Central district, and interests in three funds managed by the Group.

Following their tokenization, the assets will be distributed to eligible shareholders, compliant clients of DL Securities (Hong Kong) and verified users of the “NeuralFin Technology” platform. Using physical distribution methods, participants will be able to directly hold on-chain assets, enjoy higher transparency and liquidity and participate in a new generation of digital financial products, DL said.

DL shares rose 1.3% on Friday to close at HK$4.04.

By Lau Chi Hang

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