Zipmex Seeks Meeting of Potential Investors With Regulators

Zipmex, the operator of Asian crypto exchange that has sought protection from creditors, plans to bring together potential investors and regulators before it seals a fund-raising plan. 

Zipmex has asked for meetings with the Securities Exchange Commission in Thailand, where it runs a licensed-exchange, and government agencies to present a recovery plan, it said in a statement. Potential investors will attend the meetings too, it said.

Zipmex ran into a liquidity crunch after its exposure to embattled Babel Finance soured, forcing it to halt withdrawals. Since then it has partially eased some of the token withdrawals. 

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The firm, which also has also operations in Singapore, Indonesia and Australia, is under a moratorium until Dec. 2 that provides it protection from creditors while it finalizes investors for fresh funding. 

Other details from the statement include:

• Zimpex has appointed KordaMentha Pte. as financial advisor for restructuring process
• Online townhall meetings to be held within Sept. 15
• Two investors are near final stages of concluding an agreement