1 year ago
Crypto mining steadfast Argo Blockchain has requested the resumption of trading for its ARB shares connected the London Stock Exchange (LSE) aft the UK Financial Conduct Authority suspended it.
Reports emerged connected Dec. 10 that Argo Blockchain was looking to record for bankruptcy arsenic it is facing a terrible liquidity crunch. As a result, its ARB shares were suspended for trading connected the London Stock Exchange and Nasdaq.
However, connected Dec. 12, Argo requested that the UK Financial Conduct Authority restores the trading of its mean shares connected the London Stock Exchange.
Argo said that though it had not filed for bankruptcy yet, it is astatine hazard of not having capable currency to enactment its concern operations implicit the adjacent month.
It is looking to rise liquidity by selling immoderate of its assets and mining equipment.
Argo added that it is moving to debar filing for a Chapter 11 bankruptcy; however, “there is nary assurance that it volition debar specified filing.”
In immoderate case, Argo has engaged McDermott Will & Emery LLP arsenic ineligible advisers and Berkeley Research to analyse its options successful presumption of resolving its liquidity crisis.
The station Argo blockchain requests trading beryllium restored connected LSE, looks to rise funds appeared archetypal connected CryptoSlate.
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