World Stock Exchange expands, partners with World Internet Currency

The World Stock Exchange (WSE) run by Australian Luke Connell (LukeConnell Vandeverre) has announced its expansion in both a geographic and business sense. A location move to Silicon Island has occurred with promise of a fully independent sim online in the future.

The WSE in its original location

On the human resource front, a “full-time” Chief Operating Officer, Executive Assistant and three ‘WSE consultants’ have come on board. No disclosure occurred in the announcement of any share options or other remuneration that would be given to the new staff. Of interest is that one of the three WSE consultants, Adonis Action, is the “current owner of Action Mortgage &
Investment (AMI)”, which is listed on the WSE itself.

Integration of the World Internet Currency with WSE was also announced – more on this in a future story. Linked to this is the following statement by Luke Connell:

“The WIC will is a key part of our overall strategic plan and in anticipation to the integration of the WIC and WSE we have approved many IPO’s that pass the WSE Listing Rules, Terms of Service and Constitution.

The increased number of IPO’s has minimal impact on the overall market and almost no impact on the ability for a solid business with a detailed prospectus and reasonable marketing to raise the capital they require by successfully filling their IPO and being what is called fully subscribed”.

At SLOz we’d be interested in perspectives on the above claim – that a sudden surge in IPO approvals would have “minimal” impact.

Finally, the announcement discloses the potential for a close alliance with Anshe Chung, described in the following way:

“Anshe Chung is major shareholder of Hope Capital Ltd and of many companies listed on the WSE. Anshe has launched her own exchange with a focus on listing her own companies called Dreamland Stock Exchange. Most companies will still be listed on the WSE. We expect the DSE to be an ethical exchange that holds strong virtues. This is the only exchange that will have a close alliance to the WSE”.

We’ll be following up this story in coming days including an attempt to clarify the context of a “close alliance” with Anshe Chung.

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