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About daura

How can I register as an investor?

Navigate to our homepage and click “Register”. You will be guided through the entire process.

How can I register my company as an issuer?

Navigate to our homepage and click “Register”. You will be guided through the entire process.

Is daura a stock exchange?

No. As a provider of a technical infrastructure for issuing digital shares, we focus on the so-called primary market. That means we help companies to digitize their shares through our platform. Completely without a bank or stock exchange.

What documents are required by a company that wants to issue its shares through daura?

To register as an “Issuer”, you need to provide the following information and documents. We need these documents for quality assurance purposes.

  • Company identification number (UID or CHE number)
  • Excerpt from the debt collection register (max. 3 months old)
  • Commercial register excerpt
  • Articles of association of the company

The person registering the company on daura should also have the following documents at hand:

  • Internal power of attorney (if you do not have individual signatory rights) in the form of a circular resolution (template will be provided during onboarding)
  • Identification document
  • Criminal register excerpt (max. 6 months old)
What happens if a shareholder loses his access credentials to daura or his token? What happens if a shareholder dies?

daura has a process for recovering the access credentials as well as the tokens. This allows us to protect shareholders from loss.

Which blockchain does daura use?

daura relies on Hyperledger Fabric, a so-called “private permissioned” chain. This chain is operated by highly trusted partners in Switzerland. More specifically, it is Swisscom and Swiss Post. Other trustworthy partners with high-security data centers will be added soon, thereby ensuring the decentralized structure of the blockchain platform.

Who can register as an investor on daura?

Both individuals and legal entities can register as investors on daura. For regulatory reasons, we currently exclude investors from certain countries.

Who is daura?

daura was founded in 2018 by Swisscom and Luka Müller, co-founder of MME, as part of a digitalswitzerland challenge. In the meantime, Sygnum Bank, the Swiss stock exchange SIX, Berner Kantonalbank (BEKB), BDO and Christian Wenger of Wenger & Vieli are also invested in daura.

Why should a Swiss SME issue digital shares?

DaThis significantly simplifies the entire process of issuing and distributing shares. The entire handling of a capital increase becomes considerably more efficient.

For SMEs

Can transactions also take place outside of daura, i.e. on paper?

Via daura, you control that no transactions bypass your company. All transfers and entries in the share register must be accepted by the company.

Is it possible to declare non-digital transactions that take place outside daura as invalid?

You can restrict the transferability of shares in accordance with the Articles of Association and document this accordingly on daura, so that a transaction always requires the approval of the company.

Is the digital share also registered in the shareholders’ share portfolio?

Shareholders can see their entry in the share register in their investor profile on www.daura.ch under “My Investments”. There, a digital share can be generated for each entry (so-called “share token”) and stored and kept either in one’s own Internet browser or on one’s own hard drive (technically speaking: “self-custody”). The advantage is that there is no need for a bank (technically speaking: “third-party custody”) and therefore no custody fees are incurred by the shareholder. In addition, this digital share can be transferred directly to other investors via www.daura.ch, also without transaction costs for the shareholder. Despite these advantages of a digital share, we are also in the process of enabling an entry into the traditional banking system in the future and will provide further information on this.

What is the advantage of a digital share register on daura?

The share register is always up to date. When transfers take place, the share register is automatically updated. In addition, the digital share register serves as the basis for further activities such as the digital general assembly.

When digitizing shares, do all shares have to be digitized?

Yes, the entire share register must be digitized, i.e. the capital digitized on daura must match the capital in the commercial register. However, not all shareholders have to use the platform. The company can also enter and manage shareholders manually in the digital share register.

Who has access to the digital share register?

Only the person who registers and represents the company on daura has access to the share register. The shareholders do not see the share register, each shareholder only sees his personal investment.

Investing

Can the same capital increase be carried out in parallel on different platforms and thus the same share issued twice?

The regulatory requirements for a capital increase, in particular the linking of a capital increase to a specific capital contribution account and the requirement of notarization of a capital increase, ensure that shares can only be issued once.

If the share is digital, how is the price, i.e. the issue price, determined? Do you need an official valuation for this or can the company define this itself?

In the case of a capital increase, i.e. the first issue of a share, the company defines the issue price. This may differ from the nominal value, depending on the enterprise value at which the company intends to place this issue (technically: the so-called “premium”). The issue price/company value is communicated in the issue prospectus. In case of a public issue via daura, we require that it has been audited by an independent party (e.g. by our partner BDO). After this issue, the market of buyers and sellers will determine the price of a share. Where the company has some influence is the annual determination of the tax value, which in the future can be published by the company on daura so that shareholders can report it to the tax authorities in their tax documents.

What are the requirements to perform a capital increase?

As soon as a company has decided to increase its capital and is registered as an “Issuer” on daura, the process can be started independently on daura.

Contact

Do you have any questions?

You may contact us at any time via the contact form or by e-mail. We will get in touch with you as soon as possible.

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