JMU Limited Announced Acquisition of Blockchain-Based Payment Business
Mercurity Fintech Holding Inc. - American Ordinary Shares (MFH)
Company Research
Source: PR Newswire
SHANGHAI, March 2, 2020 /PRNewswire/ -- JMU Limited (the "Company") (Nasdaq: MFH) today announced that the Company has entered into a share purchase agreement with Beijing Kuali Yitong Technology Co., Ltd. ("Beijing Kuali Yitong"), its affiliated offshore holding company, NBpay Investment Limited ("NBpay," together with Beijing Kuali Yitong, "NBpay Group"), and Mr. Kaiming Hu, an independent third party owning NBpay Group. Pursuant to the agreement, the Company will issue 761,789,601 ordinary shares to Mr. Kaiming Hu in exchange for the entire ownership in NBpay and the control over the NBpay Group. This transaction is subject to customary closing conditions. After the closing, Mr. Kaiming Hu will hold approximately 26.5% of the issued and outstanding ordinary shares of the Company."We have a natural synergy with NBpay Group, and we are excited to integrate NBpay Group as a part of our continuing efforts to build up the infrastructure for open finance through asset digitalization," c
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