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Business Wire India
Shackelford Holdings Group Corp. (SHG) introduces Divine Exchange, a Divine Financial Group Corp.-owned stock exchange. It will be a 24-hour electronic exchange, which will give investors from around the world the opportunity to buy and sell any security at any time in any country or currency. It will be the first stock market to be open around the clock. Divine Exchange Ltd. was incorporated on November 2, 2015, in the British Virgin Islands and will be located there as well.
“Divine Exchange will revolutionize global finance because it allows the market to be truly global,” said Brady Shackelford, founder and CEO of Shackelford Holdings Group. “The ability to buy and sell securities in any currency 24-hours-a-day opens the market to many new possibilities.”
To build Divine Exchange, Shackelford Holdings Group is issuing a $500 million convertible note in its first and only round of equity financing. Noteholders of the new exchange will receive shares at a 99% discount in two SHG subsidiaries, Divine Financial Group Corp. (DFG) and Diving Transportation Group Corp. (DTG), which are set to go public in roughly 3 and 8 years, respectively. $400 million of the proceeds will be used to build the new exchange. SHG is currently looking for an investment bank to underwrite its convertible note.
Shackelford decided to open the exchange all hours of the day since investors throughout the world are located in multiple time zones. Divine Exchange was modeled after the Investors Exchange with the intention of creating a more moral exchange.
Divine Exchange will offer global investors the unique ability to buy securities in one currency and sell in another. For more information about the new stock market and how it was created, visit http://www.divineexchange.com/.
About Shackelford Holdings Group Corp.:
Shackelford Holdings Group was founded in the British Virgin Islands by Brady Shackelford in July 2014. Shackelford is the author of “In God I Trust.” SHG will retain roughly half ownership of Divine Financial Group and Divine Transportation Group after they go public and will donate 25% of DFG’s and DTG’s tax-free dividends to philanthropic causes. Shackelford Holdings Group plans to use the remaining tax-free dividends to buy or establish companies and has a goal of comprising a minimum of 30 divisions in the future. View more about the company and its owner at https://www.shackelfordholdings.com/.