Huobi Buys Lion’s Share of Pantronics, Its Native Token Immediately Surges

News
Tue, 08/28/2018 - 14:25
Alex Dovbnya
The Huobi exchange has reportedly bought almost 74 percent of Pantronics shares. The acquisition will allow Huobi to get involved in public trading without launching IPO
Cover image via U.Today

The Huobi exchange has reportedly bought almost 74 percent of Pantronics shares. The acquisition of  
this Hong Kong-based electronic manufacturer will allow Huobi to get involved in public trading without actually launching its own IPO. Pantronics, after going public in 2016, stopped offering its shares last week due to the abovementioned deal.

According to the Chinese media, the transference of ownership has already occurred, but Huobi did not provide any comments so far, waiting for the HKSE approval.

This announcement provoked an eight percent spike in the Huobi Token (HT) price.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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