Wednesday, 17 October 2018

TechFinancials Shares Rise As Cedex Deals With High Demand For Coins

Shares in TechFinancials Inc rose on Friday as it noted the high demand for blockchain-based diamond exchange Cedex Holdings Ltd, in which in holds a 2.0% stake.
Shares in the broker-focused software developers rose 13% at 32.80 pence on Friday.

Cedex is currently in the process of selling 50.0 million coins through a token sale, and is currently in the private selling phase. In response to high demand, Cedex has upped the number of coins available in the pre-sale phase from 10 million to 25 million, reducing the number in the sale phase to 25 million from 40 million.

Cedex has sold part of the coins available for sale during the private phase for a substantial amount of cryptocurrency, granting the introducer of the purchasers an option to acquire up to 5.0% of Cedex.

This means that TechFinancials now has an option to acquire 85% of Cedex.

Cedex has delayed the start of the pre-sale part of the public selling phase to March 16, to accommodate increased demand and allow Japanese participants to purchase Cedex coins.

source: lse.co.uk
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