Malaysian Investment Firm HWGC Holdings to Acquire Two Blockchain Companies for $150 Million

Malaysian investment firm HWGC Holdings has announced the acquisition of two blockchain companies, HWGG Capital and Fintech Scion, to further improve its blockchain-based innovations in the fintech industry. The total value of the transaction is estimated to be about $150 million. HWGC plans to issue nearly 300 million new common shares at a price of $0.50 per share as payment, and the acquisition is expected to close in the third quarter of this year.