Huobi Acquires Public Firm Pantronics Holdings

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Huobi Acquires Public Firm Pantronics Holdings

Posted on August 30th, 2018 in Around the World by Ryan Warner

Huobi has become the largest shareholder of Pantronics Holdings listed in Hong Kong.

Pantronics Holdings released a statement August 29 stating that Huobi had acquired 199 million shares of the firm via Huobi's subsidiaries.

Singapore based exchange Huobi now holds over 66% of the shares for Pantronics Holdings making Li Lin, chairman of Huobi Group, the largest individual shareholder. The shares were purchased at an average price of $0.35 bringing the total to approximately $70 million.

The purchase of such a large amount of a publicly traded company could allow Huobi to have a back-door listing in the future.