> For the complete documentation index, see [llms.txt](https://t-blocks.gitbook.io/t-blocks-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://t-blocks.gitbook.io/t-blocks-documentation/instrument-types/tokenized-stocks-public-equities.md).

# Tokenized Stocks (Public Equities)

Tokenized Stocks are instruments whose return is linked to the performance of publicly listed securities on recognised exchanges.

**Structure**. The SubFund acquires a direct or synthetic position in publicly listed securities (e.g., shares listed on Euronext Growth Milan, the Saudi Exchange / Tadawul, or other recognised exchanges). The SubFund issues notes to investors. Note value is linked to the market price of the underlying listed securities.

**Purpose.** This instrument category enables publicly listed companies to expand their investor base through regulated digital distribution channels. Rather than requiring investors to open brokerage accounts in specific jurisdictions, the tokenized equity-linked note provides access to the listed company's equity performance through a Luxembourg-governed instrument distributable via both traditional banking and digital channels globally.

**Return mechanism.** Note value tracks the market price of the underlying listed security. Dividends and corporate actions are reflected in note value or distributed to noteholders per the SubFund's waterfall.

**Regulatory alignment.** The notes are structured as secured debt instruments under Luxembourg law, not as direct equity. This structuring follows the same model used by established tokenized equity platforms operating under EU-regulated frameworks.

**Typical use cases.** Euronext Growth-listed SMEs seeking global digital distribution; Saudi Exchange-listed companies seeking international investor access; emerging-market listed companies seeking institutional distribution beyond their domestic exchange.