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BRIEF-Wecast to purchase 51 pct of Nextgen Exchange Group
June 12, 2017 / 1:09 PM / 3 months ago

BRIEF-Wecast to purchase 51 pct of Nextgen Exchange Group

June 12 (Reuters) - Wecast Network Inc:

* Wecast to purchase 51% of Nextgen Exchange Group

* Wecast Network Inc - WCST will pay no monetary or stock consideration for acquisition

* Wecast Network Inc - will buy 51% of outstanding capital shares in Nextgen Exchange Group from seller, Redrock Capital Group Limited and owned co

* Wecast Network Inc - ‍seller has entered into a separate agreement with Delaware board of trade holdings​

* Wecast Network Inc - ‍seller will transfer 5% of total issued and outstanding stock of Nextgen to DBOT​

* Wecast Network Inc- John Wallace will serve as executive chairman of Nextgen

* Wecast Network Inc - digital currency based products and index product trading is expected to begin in second half of 2017 Source text for Eikon: Further company coverage:

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