Report: Huobi platform intends to float its shares on the Hong Kong Stock Exchange through a reverse takeover
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Answer Report: Huobi platform intends to float its shares on the Hong Kong Stock Exchange through a reverse takeover
A report issued by Coindesk stated that the Huobi platform has made a reverse acquisition with the aim of offering its shares on the Hong Kong Stock Exchange (HKEX).
and spread The report is a document revealing that Pantronics Holdings Limited – which was recently acquired by Huobi – will change their name to Huobi Technology Holdings Limited.
The acquisition amounted to $77 million, making Huobi platform the largest shareholder in Pantronics, with a stake of more than 73 percent of the company’s shares.
Some speculated that the Huobi platform’s goal in this acquisition was to offer its shares for public subscription on the Hong Kong Stock Exchange through a process known as reverse acquisition.
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A reverse takeover means that an unlisted company lists its shares on the stock exchange by acquiring a controlling stake in a listed company.
However, the move may be affected after the Hong Kong Stock Exchange (HKEX) published new, stricter regulations on offering new shares on the exchange.
The stock exchange indicated that it will make changes to the current regulations, which may prevent the offering of new shares in reverse acquisitions.
It is worth noting that a number of major companies in the world of crypto and blockchain are seeking to offer their shares on global stock exchanges, such as what was covered in Arab bitcoin site About the mining company Bitmain.
Read:Billionaire files lawsuit against Facebook over fake crypto ad
- One of the largest mining companies plans to raise $500 million via an IPO
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