◀️ Crypto exchange Huobi seeks to acquire public firm in $77 million deal for reverse takeover

Cryptocurrency exchange Huobi is seeking to become the largest shareholder of a firm listed on the Hong Kong Stock Exchange – a move that, if completed, could allow Huobi to go public via a reverse takeover. According to shareholding disclosures filed by the firm, Pantronics Holdings, on Aug. 21, 2018, to the stock exchange, the company is transferring more than 221 million of its ordinary shares to Li Lin, the chairman of Huobi Group, via several of the exchange's subsidiaries.

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