ARTEX Global Markets, innovator in the art investment space, has collaborated with financial market infrastructure provider Euroclear to make art public via equity shares.
Euroclear has facilitated ARTEX Global Markets (ARTEX) as issuer CSD through the process to bring B-shares of a Francis Bacon painting to the market, totalling to the value of USD 55 million. This is the first issuance of equity shares that has been issued directly in Euroclear Bank.
This initial offering marks the first time that an artwork has been taken public, opening up new avenues for investors to participate in the art market. It enables investment in iconic masterpieces previously inaccessible to all but the wealthiest collectors. Starting at approximately 100 euros per art share, you can now own a portion of Francis Bacon’s triptych “Three Studies for Portrait of George Dyer” (1963). These shares are actively traded on the newly established art trading facility in Liechtenstein, ARTEX. After a successful launch, share value gained 4.77% at the end of the first quarter this year.
“The first listing of a work of art in the world, with this amazing triptych is another major step forward in our objective of democratising investment in art. It is now possible to invest securely and transparently in one of the major works in the history of modern art. Future listings will continue and we will be announcing them in the second half of the year”, commented Yassir Benjelloun-Touimi, co-founder and CEO of ARTEX.
Bacon’s iconic work previously was part of a private collection. ARTEX aims to broaden the scope of the art market and provide the public with opportunities to engage with and invest in cultural assets. With continued leveraging of the market expertise and experience of Euroclear’s guidance and primary market services, investors can expect to see more art pieces brought to ARTEX.
“Euroclear is delighted to have been able to support this truly innovative development in the world of art investment. Not only does this transaction serve as a catalyst to open up the world of art investment to the public, it also furthers strengthens the value of Euroclear as a key financial market infrastructure. By issuing its first international share offering directly in Euroclear Bank, Euroclear stresses its ambition to expand available asset classes in an efficient way to continue to connect issuers and investors and facilitating a more attractive and integrated capital market in Europe”, said Philippe Laurensy, Managing Director and Head of Product, Strategy and Innovation at Euroclear.
