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Navi Pharma's acquisition of Conflux leads to a big pump of 240% in stock price, laying out a Blockchain strategy.
On July 2, the Hong Kong-listed company Pioneer Pharma Biotechnology (00399) experienced a higher trade volumes and pumped nearly 240% during the morning session, with the stock price reaching a high of 0.7 HKD, before retreating to around 0.34 HKD.
Previously, the company announced its plan to acquire all shares of the blockchain project Conflux to expand its layout in the blockchain field. Two founding members of Conflux currently serve as its executive directors.