Zipmex, the operator of Asian crypto exchange that has sought protection from creditors, plans to bring together potential investors and regulators before it seals a fund-raising plan.
(Bloomberg) — Zipmex, the operator of Asian crypto exchange that has sought protection from creditors, plans to bring together potential investors and regulators before it seals a fund-raising plan.
Zipmex has asked for meetings with the Securities Exchange Commission in Thailand, where it runs a licensed-exchange, and government agencies to present a recovery plan, it said in a statement.
Potential investors will attend the meetings too, it said.
Zipmex ran into a liquidity crunch after its exposure to embattled Babel Finance soured, forcing it to halt withdrawals. Since then it has partially eased some of the token withdrawals.
Read: Thai Central Bank to Get More Powers in Crypto Law Overhaul
The firm, which also has also operations in Singapore, Indonesia and Australia, is under a moratorium until Dec.
2 that provides it protection from creditors while it finalizes investors for fresh funding.
Other details from the statement include:
- Zimpex has appointed KordaMentha Pte. as financial advisor for restructuring process
- Online townhall meetings to be held within Sept.
15
- Two investors are near final stages of concluding an agreement
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