Making art accessible as an investment to the masses is the vision behind the financial startup Artex Stock Exchange. Today, it marks a milestone by introducing its first artwork to the Luxembourg stock market, albeit nine months behind schedule.

Initially announced last May by the Liechtenstein-based startup Artex Stock Exchange, co-founded by ex-investment bankers Yassir Benjelloun-Touimi and Prince Wenzeslaus of Liechtenstein, the plan to list a Francis Bacon triptych faced delays. The venture, which made its debut slightly over a year ago as reported by finews.ch, has now reached a valuation of $55 million.

On March 8th, Artex, through a specially formed corporation named “Art Share 002,” successfully listed Francis Bacon’s “Three Studies for Portrait of George Dyer, 1963” on the Luxembourg Stock Exchange. Trading of the shares is set to commence on Friday afternoon, under the ISIN LU2583605592.

This unique company, created solely to oversee this single piece of art, purchased the triptych from a private seller. During the initial public offering (IPO) of Art Share 002, 412,500 Class B shares were issued, making up 75 percent of the company’s total shares. These shares were priced at 92.20 euros each, establishing the company’s value at 55 million US dollars. Zeus Capital Limited, a British investment bank, served as the bookrunner for the transaction.

Prince Wenzeslaus of Liechtenstein, who co-founded the company last year, celebrates the start of trading as a “novelty in art history”. The “strong interest” from investors is a “great vote of confidence in our new regulated and accessible multilateral trading facility with a focus on art”.