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