TechFinancials Biggest Shareholder Offloads Entire Stake

TechFinancials, a trading software company, announced this Tuesday that one of its major shareholders has exited the company. According to documents released on the London Stock Exchange, Shen Chaohuli has sold all of his shares in the company to Ou Qiao.

Those documents indicate that Chaohuli controlled 18.27 percent of the company - equivalent to 15,528,225. Though the document was released today, it appears that Qiao came into possession of those shares on Monday, the eighth of October.

The same document indicates that the Chaohuli sold his stake at $0.0005 per share. That means he’ll be making a grand total of $7764 from the sale of his stake in the company. Given that about a third of those shares were valued at close to $3 million just last year, the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term is likely part of some prior agreement.

TechFinancials - a New Largest Shareholder

Having made his acquisition, Qiao is now the largest shareholder in the company in some way. Eyal Alon, one of the co-founders of TechFinancials, is the next largest shareholder with an 11.35 percent stake in the firm.

CEO Asaf Lahav, who also co-founded the firm, is another major shareholder. Information on TechFinancials’ investor relations page indicates that he has a 10.77 percent stake in the firm he founded.

It is unclear exactly who Chaohuli and Qiao are, though they appear to be based in China. Chaohuli made his initial investment in TechFinancials back in July of 2017. That came just a month after TechFinancials began a restructuring effort, with a shift in focus to blockchain technology, in the wake of a ban on binary options in Israel.

TechFinancials does have a connection to China. In 2016, the company started a joint venture (JV) - DragonFinancials - with Chinese businessmen, to sell binary options to clients in East Asia.

It seems probable the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term in shares is connected to this JV. What happened between the two firms, that has led to the sale in shares, however, is unclear.