Diginex Moves Closer to Backdoor Nasdaq Listing With Merger Approval

The blockchain services firm is officially merging with publicly traded 8i Enterprises Acquisition Corp., a key part of its plan for a "backdoor" listing.

AccessTimeIconSep 16, 2020 at 9:56 a.m. UTC
Updated May 9, 2023 at 3:11 a.m. UTC

Blockchain services firm Diginex is officially merging with publicly traded 8i Enterprises Acquisition Corp., a key part of its plan for a "backdoor" Nasdaq listing.

  • Announced Wednesday, 8i shareholders overwhelmingly approved the proposed "business combination transaction" with Hong Kong-based Diginex at a special meeting, with 81% in favor.
  • Diginex is the parent company of derivatives platform EQUOS.io, which had been hoping to become the U.S.' first publicly traded crypto exchange later this month.
  • It was pipped to the post, though, with Gibraltar-based INX Ltd. recently launching its SEC-registered security token IPO, aiming to raise $117 million.
  • Diginex's ecosystem also includes digital asset trading technology platform Diginex Access and securitization advisory firm Diginex Capital, as well as a digital asset custody provider and an investment management business.
  • The company received approval from the Securities and Exchange Commission for the merger with 8i back in February.
  • The news marks "significant milestone" in that process, said Diginex CEO Richard Byworth, with both parties expecting a close of the transaction later in the month.
  • Shareholder approval during unprecedented market conditions was a "testament" to the digital assets industry, Byworth noted.
  • Following the deal's closure, the exchange's shares are expected to be traded on the New York-based Nasdaq stock exchange under the ticker symbol "EQOS."
  • The British Virgin Islands-based “blank check” company 8i is a special-purpose acquisition shell company that uses funds from their initial public offerings (IPOs) to acquire target companies.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.