Takung Launches New Unit+ Platform
HONG KONG, CHINA / ACCESSWIRE / September 6, 2017 / Takung Art Co., Ltd. (NYSE American: TKAT) ("Takung" or the "Company"), an online trading platform that facilitates art collectors and art-interested investors to obtain and trade shared ownership units in Asian and international fine arts, announced today the launch of Takung Unit+, a new unit trading platform for collectibles. Similar to Takung's flagship art unit trading platform, or Takung Unit trading platform, Takung Unit+ will allow investors to buy and trade shared ownership units of portfolios of collectibles, however, unlike the Company's standard Unit trading platform, each Takung Unit+ portfolio will contain multiple numbers of the same item, and traders will have the option of direct ownership with physical delivery by trading the units they own for one or more of the items in the portfolio. Just as in the standard Unit trading platform, Takung will collect listing fees on the initial listing values of new portfolios, commissions on trades made by investors using the platform, and management fees for the storage, transportation, and insurance of the items in the portfolio.
The Company further stated that the platform's inaugural offering - which began trading today - is a portfolio of 60 official gold-backed reproductions of the first printing of Ta Kung Pao, China's oldest active newspaper, which Ta Kung Pao produced and issued in honor of its 115th anniversary. The portfolio is valued at HKD 1.2 million, which means that 1.2 million units will be available for investors to trade. Investors will have the opportunity to directly own one or more items in the portfolio by submitting an online application and exchanging 19,800 units of portfolio ownership per item.
Mr. Di Xiao, Chairman and CEO of Takung, commented, "We are confident about the potential of the new Takung Unit+ platform. Takung's ability to form partnerships with organizations such as Ta Kung Pao and to obtain unique, authentic collectable items from prestigious brands differentiates the Takung Unit+ platform from other platforms. As Takung Unit+ traders become more familiar with using the platform, we believe some will also become interested in our standard Unit trading platform as well as Takung Online."
The Ta Kung Pao portfolio has excellent prospects for investment appreciation since the portfolio includes a duplicate of the very first issue of the newspaper. Collectible newspapers in China have seen market values rise into the hundreds of thousands of RMB. For example, the October 1st, 1949, editions of the People's Daily, Liberation Daily, and Guangming Daily have become extremely valuable. Collectible editions of the People's Daily and Liberation Daily marking the 1997 handover of Hong Kong as well as the fiftieth anniversary of the People's Daily have also been highly valued by collectors.
"We believe Takung Unit+ will contribute additional incremental revenue for the second half of 2017 and into 2018. Also, we expect to announce additional exclusive partnerships to Takung Unit+ in the coming months for sports memorabilia as well as other collectable items and look forward to updating investors on the progress of this exciting new unit trading platform," Mr. Xiao concluded.
About Takung Art Co., Ltd.
Takung Art Co., Ltd. operates a unique, proprietary online trading platform which facilitates art collectors and art-interested investors to gain and trade shared ownerships in Asian and international fine arts. Takung is headquartered in Hong Kong and operates primarily in Hong Kong through our direct wholly-owned subsidiary HongKong Takung Assets and Equity of Artworks Exchange Co. Ltd. and its two wholly-owned subsidiaries in Shanghai and Tianjin that facilitate service and support to its PRC-based traders on the Company's platform. The Company's online trading platform which converts the ownership of artworks into ownership units, enables China's growing middle class to invest in fine art as an investment opportunity. For more information, please visit the Company's website: http://ir.takungart.com. The Company routinely posts important information on its website.
This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
Takung Art Co., Ltd.
Mr. Leslie Chow
Phone: +852 31580977
SOURCE: Takung Art Co., Ltd.
Released September 6, 2017