Huobi Acquires Public Firm Pantronics Holdings

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Huobi Acquires Public Firm Pantronics Holdings

By Ryan Warner
August 30th, 2018

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.