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Pantronics acquired by Huobi in potential reverse takeover

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It was reported recently that one of the world’s largest crypto exchanges, Huobi, which has excess of $500 million daily has acquired Pantronics Holdings Ltd after it purchased for $77 million, 73.73% of it’s stock.


Pantronics deals with manufacturing electronics equipments and is listed publicly on the HongKong stock exchange. This acquisition by Huobi may be to carry out a reverse takeover, which would permit the exchange to be a publicly-listed company without having to go through the Initial Public Offering (IPO) approval, which usually goes through a very long process.


Li Lin, Huobi's CEO, was questioned if the acquisition will be leading the company to do a backdoor listing. However, he dismissed the rumor but mentioned that there is a probability for it to happen.


Being fair, it is very possible that Huobi is simply making an investment. To do a reverse takeover, it would have to gut Pantronics and transform it into a shell company, which could upset the  and regulators would find it difficult to approve.
There is no publicly listed crypto exchange in the world and it is unlikely that the first one to happen will be permitted by regulators through a reverse takeover.

Edited by wilslaw

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