LONDON, Oct. 8, 2022 /PRNewswire/ -- Huobi Global announced today that the controlling shareholder has completed the transaction to sell its entire shareholding in Huobi Global to the buyout vehicle managed by About Capital Management (HK) Co., Limited ("About Capital"). Upon completion of the transaction, the buyout vehicle of About Capital will control the majority stake in Huobi Global. The transaction only involves the change of controlling shareholder and has no impact on Huobi's core operation and business management teams. According to About Capital, post transaction Huobi Global will embrace a series of new international brand promotion and business expansion initiatives, including a global strategic advisory board led by leading industry figures, the injection of sufficient capital in margin and risk provision fund, as well as measures to further enhance competitiveness. Upon successful implementation of the initiatives, Huobi Global will be well positioned to provide first-class trading and investment services to international investors.
Headquartered in Hong Kong, About Capital is a fund management company founded in 2008. About Capital specialises in special situation strategy to identify long term investment opportunities. Since its inception, it has won a series of prestigious industry awards among the best performing funds in Asia.
Commenting on the Huobi Global acquisition, Ted Chen, CEO of About Capital, said "We are very pleased to complete the transaction. Huobi Global offers the best of breed virtual asset investment services to millions of international users. We believe the virtual asset industry is still in its early stage and there is tremendous upside for long term growth. We are confident that the holistic approach to rebuild Huobi Global as the premier international virtual asset exchange would solidify both the recognition and trust of Huobi's international users."
Leon Li, the founder of Huobi, said: "This transaction marks a new chapter for Huobi Global. Over the past nine years, we have witnessed Huobi's ascendence into one of the largest virtual asset exchanges in the world. Following Huobi's exit from the Chinese mainland market in 2021, we have accelerated our globalization push amidst a challenging market environment, which adds to the impetus for Huobi to seek a new shareholding structure with a global vision and international resources. We believe the successful acquisition by About Capital vehicle will contribute to Huobi's global expansion in both aspects."
It is understood that the transaction also includes a series of important measures to ensure the smooth transition of daily operations, improved risk capital provision and stability of the core management team.
Huobi Global Introduction
Founded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provide a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: www.huobi.com
About Capital Introduction
About Capital Management (HK) Co., Limited is a fund management company based in Hong Kong. It was founded by Mr. Ted Chen in 2008. Previously, Mr. Chen was a founding partner of China's leading investment manager Greenwoods Asset Management. He has over 30 years of successful experience in the capital market and investment management industry. About Capital focuses on exploring long-term investment opportunities. Please refer to the official website www.aboutcap.com
SOURCE Huobi Global