Pantronics Holdings, the acquired, released an announcement on Aug. 29 saying Huobi Group, crypto exchange ,had finished the arrangement by by purchasing about 199 million of its shares by means of two of the group’s subsidiaries – Huobi Capital and Huobi Universal.
With that amount, Li Lin, amount of Huobi Group and controller of the two subsidiaries, now possesses 66.26 percent of Pantronics and is the biggest individual substantial shareholder. In light of the declaration, the transactions were made at an average cost of HK$2.72 (or $0.35) per share with an aggregate amount near $70 million.
In a disclosure of interests filed by Pantronics on Aug. 21, Huobi was trying to buy 73.73 percent of the company’s ordinary shares which would have cost a total of $77 million.
Besides, the most recent report on Wednesday offered a look into Huobi’s corporate structure, for example, the stakes held by prominent financial specialists of Huobi.
