OKCoin becomes majority shareowner of a Hong Kong-listed company

OKCoin Holdings, the parent company of OKCoin, bought almost 3.3 billion shares of LEAP, a construction-engineering firm listed on the Hong Kong Stock Exchange, according to an announcement. OKCoin Holdings will now be LEAP's largest shareholder.

The $60 million purchase may have brought OKCoin Holdings closer to becoming a public company listed on the Hong Kong Stock Exchange without having to apply for an initial public offering. It seems reverse mergers are becoming a popular move among crypto firms —just two days ago,  Bithumb - the Korean crypto exchange - and Blockchain Industries -  OTC listed holding company - announced their plans to merge in a letter of intent.