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Blockchain companies agency Diginex is nearer to itemizing on Nasdaq after the Securities and Alternate Fee (SEC) authorized its bid to merge with publicly traded 8i Enterprises Acquisition Corp. on Friday.
The $276 million deal will now be put earlier than 8i’s shareholders for approval at a March 20 particular assembly, in line with a press launch.
If accepted, the merger will permit Diginex, a non-public firm based mostly in Hong Kong, to bypass most of the normal regulatory obstacles related to launching an preliminary public providing and be listed on the Nasdaq Inventory Market in what’s referred to as a backdoor itemizing.
The 2 companies have been working towards a merger since final July. Diginex shareholders would obtain 20 million peculiar shares in 8i, valued at $10 every, in line with a earlier report.
Diginex develops instruments for establishments with a give attention to digital belongings, in addition to a buying and selling and custody platform. 8i is a British Virgin Islands-based clean examine firm.
The final 12 months has seen Diginex leap varied regulatory hurdles to develop into the primary agency to cross the Hong Kong Securities and Futures Fee’s framework for crypto funds in November.
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