🇭🇰Pioneer Pharmaceutical Biotechnology surged over 240% during trading, having announced plans to acquire all shares of Conflux @Conflux_Network.
The Hong Kong-listed company Pioneer Pharmaceutical Biotechnology (00399) saw a significant increase in volume this morning, with its stock price rising nearly 240% at one point, reaching a high of HKD 0.7 before falling back to around HKD 0.34.
Previously, the company announced plans to acquire all shares of the blockchain project Conflux to expand its presence in the blockchain sector, with two founding members of Conflux currently serving as its executive directors.
🔥Both founders of Conflux are executive directors of Pioneer Pharma Biotechnology.
According to public information, the two founders of Conflux @Conflux_Network, Long Fan and Wu Ming, are both executive directors of the Hong Kong-listed company Pioneer Pharma Biotechnology.
Currently, Pioneer Pharma Biotechnology has a total market capitalization of HKD 371 million, approximately USD 47.26 million. The total market capitalization of Conflux ($CFX) is USD 393 million, ranking 138th in the cryptocurrency market capitalization leaderboard.
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