Mega is doing a reverse acquisition of a shell company so they can list on the New Zealand stock exchange with a valuation of $179 million.
TRS Investments Ltd will buy all of Mega’s shares. After this TRS will receive 700 million shares of the new Mega company. Mega’s shareholders will own 99 percent of this company.
TRS shareholders still need to give final approval.
Kim Dotcom told the Financial Times:
“A lot of people and other companies have expressed a desire to invest in Mega or even buy the company, so a listing is a natural step… It creates a currency.”
Dotcom resigned from his position as Mega’s director in August 2013, but his wife owns 26.5 percent of the company.