HGX is pleased to announce the launch of a new premium whisky ABS token - the Brora 1982! This launch follows the successful debut of Southeast Asia's first whisky-based ABS token on HGX earlier this year.
To celebrate the reopening of cult Scotch distillery Brora after 38 years of closure, 1982 Brora Pte Ltd, a Singapore-based company, has made available one of the spirit maker’s most distinctive and rarest expressions to whisky connoisseurs and investors.
The whisky, produced during the distillery’s short-lived, light-on-the-peatiness phase, can be purchased through a tokenised asset-backed security (ABS). Each digital token represents a bottle of Brora 1982 and is tradable on Hg Exchange (HGX), a private, member-driven exchange licensed by the Monetary Authority of Singapore.
The ABS allows accredited investors to own and trade units of premium whisky while it is still maturing in the cask. Brora 1982 is targeted for bottling in 2027, after which investors can redeem the ABS for cash by selling the whisky or keeping the physical product to consume. At the time of bottling, the whisky will be 45 years old, one of the oldest released by Brora.
The launch of Brora 1982 follows the successful debut of Southeast Asia’s first whisky-based ABS token on HGX by the PrimePartners group, which included exclusive whiskies from acclaimed distilleries such as Port Ellen, Talisker, and Coal Ila.
Says Gerald Ong, owner of 1982 Brora and deputy chairman of PrimePartners Corporate Finance, “Due to overwhelming demand of whisky-based ABS, we’ve decided to offer another rare cask, the Brora 1982. Investments in premium whiskies have grown a few hundred per cent in the past decade, and this is one way for connoisseurs and investors to own and trade coveted, hard-to-procure spirits.”
Accredited investors interested in whisky-based ABS can contact any HGX member firm.
PrimePartners —Chen Yan ([email protected])
Fundnel — Jamie Yee ([email protected])
Phillip Securities — Emmeline Ang ([email protected])
The Brora distillery in Scotland’s north-east coast of Sutherland opened in 1819 under the name of Clynelish. That appellation was changed to Brora in 1968 when “Clynelish” moved to a new facility nearby. Brora produced heavily-peated, Islay-style whiskies from 1968 to 1981, and lightly-peated Highland style whiskies until 1983, when it was shut down. The distillery reopened in May 2021 after a three-year restoration project.
About PrimePartners Corporate Finance Pte. Ltd.
Based in Singapore and licensed by the Monetary Authority of Singapore, PrimePartners provides advisory and capital-raising services for private and public-listed companies. Capital raising through digital assets on private exchanges is the next wave of capital market products to which investors are seeking access and PrimePartners is an active participant in this innovative market segment.
About Hg Exchange
Hg Exchange (“HGX”) is a private exchange licensed and regulated by the Monetary Authority of Singapore. Its founders include PhillipCapital, PrimePartners, Fundnel and Zilliqa. HGX’s technology infrastructure is underpinned by advanced blockchain technology and proven exchange solutions to enable secure and efficient cross-border issuance and trading of both digital and non-digital capital market products. It aims to create an equitable trading platform by bringing operational transparency, fair competition and cost-efficiency to the private capital markets.