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Midpoint boss ups his stake

The stake of David Wong, president and chief executive of Midpoint Holdings, could potentially rise to 11% were he to exercise all of his warrants.

David Wong, president and chief executive of Midpoint Holdings Ltd (CVE:MPT), has lifted his stake in the company to around 7.7%.

Wong increased his stake in the online currency trading platform operator from around 6.4% by participating in last week's placement of share by Midpoint.

Were Wong to exercise all the warrants he holds, his stake in Midpoint could potentially rise to 11%, it was revealed in a stock market statement.

The technology company closed the second tranche of its previously announced private placement last Friday.

It issued 1.27mln units at a price of 10 cents per unit, raising C$127,000 in the process, which will augment the company's working capital.


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